U.S. GDP Grows at Faster Rate
By: Vertex News
Updated: October 18, 2011
The U.S. economy is showing some signs of picking up.
Economists estimate the nation's gross domestic product grew up to two-point-seven percent in the third quarter of this year.
That's up from the second quarter's growth rate of one-point-three percent.
The Labor Department reports that the rate of increase in food prices slowed from one-point-one percent in August to zero-point-six percent September.
The price of gasoline jumped 4.2 percent last month, the largest increase since March.
Gas prices had dropped one percent in August.
Economists say the spike in gas prices is attributable to seasonal factors.
Economists estimate the nation's gross domestic product grew up to two-point-seven percent in the third quarter of this year.
That's up from the second quarter's growth rate of one-point-three percent.
The Labor Department reports that the rate of increase in food prices slowed from one-point-one percent in August to zero-point-six percent September.
The price of gasoline jumped 4.2 percent last month, the largest increase since March.
Gas prices had dropped one percent in August.
Economists say the spike in gas prices is attributable to seasonal factors.
