U.S. Economy Picks Up Steam in Q3; Growth Hits 2.0%
Friday, October 26, 2012
Alan Tonelson, an economist with U.S. Business and Industry Council, said the economy “remains heavily dependent for growth on personal consumption and housing – the toxic combination that led directly to the financial crisis and deep ensuing recession.”
Business investment, which he said “fosters the kind of healthy growth desperately needed by the economy,” was slightly down from the second quarter. “And net exports
, another potential engine of healthy expansion, turned from a modest growth promoter to a modest growth drag,” he said.Click here to read the article...