Reasonably Good News
Gross domestic product, or GDP, grew at a revised 3.1 percent in the second three months of the year, the government said before the open. That was up from the 2.4 percent rise estimated a month ago and slightly above Wall Street expectations for a 3.0 percent gain.
UPDATE: Leave it to Kevin to rain on the parade.
UPDATE: See also General Glut, who ballparks the GDP growth in the absense of the surge in military spending at 2.2%–decent, but not great. For comparison (and a reminder of how good the economy was under Clinton), I grabbed Real GDP growth numbers for 92-93 to 00-01 from the Economic Report of the President: