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MTECHTIPS:-GLOBAL HAPPENINGS
The U.S. economy grew at a slightly faster 2 percent annual rate from July through September, buoyed by more spending by consumers and the federal government. Even with the increase from a 1.3 percent growth rate in the April-June quarter, the economy remains too weak to rapidly boost job creation. The economy grew faster last quarter in part because consumer spending rose at a 2 percent annual rate, up from a 1.5 percent rate in the second quarter. Confidence among U.S. consumers rose in October from the prior month to the highest level since before the last recession began five years ago. The Thomson Reuters/University of Michigan final consumer sentiment index climbed to 82.6,
the highest since September 2007, from 78.3 in September. Lower gasoline prices, improving property values and a drop in unemployment may be helping to boost sentiment, brightening the outlook for household purchases
The U.S. economy grew at a slightly faster 2 percent annual rate from July through September, buoyed by more spending by consumers and the federal government. Even with the increase from a 1.3 percent growth rate in the April-June quarter, the economy remains too weak to rapidly boost job creation. The economy grew faster last quarter in part because consumer spending rose at a 2 percent annual rate, up from a 1.5 percent rate in the second quarter. Confidence among U.S. consumers rose in October from the prior month to the highest level since before the last recession began five years ago. The Thomson Reuters/University of Michigan final consumer sentiment index climbed to 82.6,
the highest since September 2007, from 78.3 in September. Lower gasoline prices, improving property values and a drop in unemployment may be helping to boost sentiment, brightening the outlook for household purchases
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