Economy Grew In Third Quarter

10.29.10 | FL News Team

(Washington, DC)  --  Economic growth in the third quarter showed an increase.  The Commerce Department says the gross domestic product expanded at a two-percent annual rate as consumer spending rose at its quickest pace since 2006 and businesses continued to rebuild inventories.

The hike matched the forecasts of economists.  However, the GDP report probably won't change the minds of Fed officials at the November meeting from announcing a second round of bond purchases to push lower interest rates and put some muscle into the recovery.