New Report: Economy grew at 2.5% in second quarter, almost double first quarter growth

[WI_DEM]

Total output grew at an annual rate of 2.5 percent from July to September, almost double the 1.3 percent rate in the second quarter, the department reported.

The growth, however, is still paltry — not brisk enough to recover the ground lost in the economic bust, lower unemployment or even dispel fears of a second recession. But the report offered a small helping of reassurance.

“It ain’t brilliant, but at least it’s heading in the right direction,” said Ian Shepherdson, the chief United States economist for High Frequency Economics, a data analysis firm. “I want to see 4 percent, but given that people were talking about a new recession, I’ll take 2.5 or 3, thanks very much.”

http://www.nytimes.com/2011/10/28/business/economy/us-e...