America

Snapshot Of Economy's Growth In Third Quarter Little Changed

For the record:

The Bureau of Economic Analysis just reported that gross domestic product grew at a 2.6 percent annual rate in the third quarter. Its previous estimate for the quarter: 2.5 percent growth.

According to Bloomberg News:

"The revised increase in gross domestic product ... was less than the median forecast of a 2.8 percent in a Bloomberg News survey. ... Inventories rose more than initially reported, while the rise in household purchases was revised down."

There's another widely watched economic report due at 10 a.m. ET, when the National Association of Realtors releases figures on November sales of "existing homes."

Update at 11:15 a.m. ET: NPR's Paul Brown spoke with Gus Faucher, director of macroeconomics for Moody's Analytics, about what the latest indicators are saying about the economy. Faucher said there's reason to believe that businesses may soon start hiring again because so many have been socking away cash and have done about as much as they can for now to boost productivity and will need to add staff to meet rising demand:

Moody's Analytics' Gus Faucher on the hiring outlook

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