November 29, 2007

GRIM ECONOMIC NEWS:

The U.S. economy expanded at the fastest pace in four years during the third quarter, growing at a real annual rate of 4.9%, the Commerce Department said Thursday in making its second estimate of growth for the three-month period. . . . Real GDP has increased 2.8% in the past year, close to the economy’s long-run potential.

Well, it’s grim news for some people. Wonder how much attention it will get? (Via JWF).

UPDATE: More here: “I don’t expect this revision to break out of the business pages.”