Michael Ubaldi, November 30, 2004.
Wall Street is reportedly still yawning this morning, but there's reason to perk up:
The economy — helped out by more brisk consumer and business spending — grew at an annual rate of 3.9 percent in the third quarter, a performance that was stronger than previously thought.
The new reading on gross domestic product, which is based on additional data, was up from the 3.7 percent growth rate first estimated for the July-to-September quarter, the Commerce Department reported Tuesday.
...The 3.9 percent growth rate registered in the third quarter represented a pickup from the second quarter's 3.3 percent pace and marked the best showing since the opening quarter of this year.
Better than expected; better than average. Predictions for next week's reports include a healthy gain in non-farm payrolls against a further drop in the national unemployment rate. Now that the presidential election's over, leaving no good reason to dispute the obvious, all major public figures ought to publicly recognize the American economy's strength — justifiably good sentiment helps everybody.