Economy Grows at Best Pace in Two Years

Fortunately there has been some very positive news about the recovery of our economy.  The US economy has grown at an impressive 3.5% in the third quarter of 2009. 

This is the best improvement in our economy in two years.  Much of this economic growth was fueled by the government supported spending on cars and homes. 

This welcome milestone is just another step, and we still have a long road to travel until the economy is fully recovered,” said Christina Romer, President Barack Obama’s chief economist. “It will take sustained, robust … growth to bring the unemployment rate down substantially. Such a decline in unemployment is, of course, what we are all working to achieve.”

Consumer spending is rising as Americans are becoming more and more confident.  Consumer spending on big manufactured goods soared 22.3%  in the third quarter, which is the most since 2001.