US economy starts to grow

(From the Financial Times) The US economy returned to growth in the third quarter after the longest period of economic contraction since the Great Depression, official figures confirmed on Thursday.

US gross domestic product grew at an annual rate of 3.5 per cent in the quarter – slightly higher than analysts were expecting – after shrinking in each of the past four.

President Barack Obama said the report was “welcome” but stressed his own benchmarks for economic strength included “whether we are creating jobs, whether families are having an easier time paying their bills, whether our businesses are hiring and doing well”.

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