U.S. Growth Under Forecast in 3rd Quarter
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The U.S. economy expanded at a 3.7 percent annual rate in the third quarter, below expectations but still bolstered by healthy consumer spending that was accompanied by the lowest inflation in decades, the Commerce Department said on Friday.
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The U.S. economic outlook dimmed on  Tuesday after reports said business productivity grew more  slowly in the third quarter than first estimated, labor costs  rose and other indicators signaled softening activity.
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U.S. stock futures fell on Friday,  pointing to a lower market open, after third-quarter gross  domestic product data showed the U.S. economy grew at a  slower-than-expected pace.
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Robust consumer spending on cars,  furniture and food in the third quarter helped the U.S.   economy advance more quickly than first thought, a government  report showed on Tuesday, while underlying inflation was the  tamest in decades.
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U.S. stock futures rose on Wednesday on optimism the government will raise its estimate of third-quarter economic growth, a move that would suggest stronger momentum for corporate profits.
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The economy revved up its engine in the third quarter and advanced at an annual rate of 4 percent -- faster than expected. The reading on gross domestic product, released Wednesday by the Commerce Department
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The economy grew at a 3.8 percent annual rate in the April-to-June quarter, slightly less robust than a previous estimate of a 4 percent growth rate.
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The 3M Company said on Wednesday that it expected double-digit sales and earnings growth in 2008 and forecast profit slightly above the average Wall Street estimate.
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The US economy grew at a slower-than- expected 3.7 percent annual rate in the third quarter as rising oil prices contributed to a record trade deficit and companies added less to inventories.
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WASHINGTON : The US economy&#39;s &quot;soft patch&quot; was not as weak as initial estimates, according to government data Wednesday showing a 3.3 percent pace of expansion in the second quarter.
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The U.S. economy grew at a slightly  stronger rate than thought in the third quarter because imports  were not as hefty as first estimated, the Commerce Department  said on Wednesday, though corporate profits weakened.
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Under the new forecast, gross domestic product will grow by 3.1 percent, as measured from the fourth quarter of last year to the fourth quarter of this year, down from a June projection of 3.6 percent
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The US economy expanded at a slower-than-expected 3.7 percent annual pace in the third quarter of 2004, the government said in the last major economic report before the November 2 election.
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The U.S. economy expanded at its  fastest rate in four years during the third quarter, the  government confirmed on Thursday, though it has slowed sharply  since and is expected to keep doing so in 2008.
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WASHINGTON: The US economy grew at a slightly stronger rate than thought in the third quarter because imports were not as hefty as first estimated, the Commerce Department said on Wednesday, though corporate profits weakened.
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The U.S. economy grew at a healthy  3.7 percent annual rate in the third quarter this year,  bolstered by strong consumer spending and accompanied by the  lowest inflation in decades, the Commerce Department said on  Friday.
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The US economy grew at an annual rate of 3.3 percent in the spring, the government reported Wednesday. That was significantly better than a previous estimate but still the weakest showing in more than a year.