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Archive for Thursday, December 1, 2005

Economy surges, despite hurricanes

December 1, 2005

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The nation's economy demonstrated just how sturdy it is, posting its strongest quarterly showing in more than a year despite the Gulf Coast hurricanes.

Gross domestic product, the best measure of economic standing, increased at a hardy 4.3 percent annual rate from July through September, the Commerce Department reported Wednesday.

The reading topped the 3.8 percent pace estimated a month ago for the third quarter, and it exceeded analysts' projections of a 4 percent pace.

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