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Economy Soars, Paced by Spending

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Economy Soars, Paced by Spending

Economy Soars, Paced by Spending

Economy Soars, Paced by Spending

  • Download
  • <iframe src="https://www.npr.org/player/embed/1485221/1485222" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

NPR's Jim Zarroli reports the economy raced ahead in the third quarter, growing at a 7.2 percent annual rate. That's the highest increase in the nation's gross domestic product in 19 years. Consumers continued to spend despite relatively high unemployment and a lack of new job creation. Business spending was especially strong, rising 11.1 percent in the quarter.