Share this story
Close X
Switch to Desktop Site

News In Brief

Third-quarter US output rises 7.9%; Inflation holds

The gross national product grew at a healthy 7.9 percent annual rate in the third quarter after adjustment for inflation, the Commerce Department said Thursday. The strength of the broadest economic indicator, measuring the nation's output of goods and services, showed the recovery was durable enough to withstand mounting trade deficits and the problems of a long, hot summer. The latest gains are on top of the second quarter's strong 9.7 percent growth.

About these ads

Inflation throughout the economy, as measured in the GNP report, stayed about the same. The government's ''implicit price deflator'' - a broader measure of inflation than the consumer price index - was 3.4 percent in the third quarter, compared with 3.3 percent in the second.

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.