Economic Growth Rate Hits 2.5%
WASHINGTON (AP) - The U.S. economy grew at a moderate annual rate of 2.5 percent from July through September despite the poorest trade performance in six years and a $4 billion income loss from Hurricane Hugo, the government reported Thursday.
The Commerce Department said the increase in the gross national product (GNP), the broadest measure of conomic health, matched a 2.5 percent rise in the April-June quarter. Third-quarter growth was aided primarily by a boom in consumer spending that resulted from heavy car sales.
Inflation showed a marked improvement in the third quarter, with a price index tied to the GNP climbing at an annual rate of just …
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Publication information: Article title: Economic Growth Rate Hits 2.5%. Contributors: Not available. Newspaper title: THE JOURNAL RECORD. Publication date: October 27, 1989. Page number: Not available. © 2009 THE JOURNAL RECORD. Provided by ProQuest LLC. All Rights Reserved.
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