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.


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
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