Reasonably Good News
From Reuters,
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.
AB
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:
| Real GDP Growth |
Period |
| 2.65% | 92-93 |
| 4.04% | 93-94 |
| 2.67% | 94-95 |
| 3.57% | 95-96 |
| 4.43% | 96-97 |
| 4.28% | 97-98 |
| 4.11% | 98-99 |
| 3.75% | 99-00 |
| 0.25% | 00-01 |