Recession Fears Eased: Econmy grows at 2.5% Rate in 3rd. Quarter

The economy grew at an annual rate of 2.5 percent in the three months ending Sept. 30, the government reported, easing fears that the nation would fall into a second recession but still too slow a pace to cut significantly into the high unemployment rate.</p> “We’re inching our way forward,” says Diane Swonk, chief economist at Mesirow Financial. The new data from the Commerce Department on Thursday showed slow but steady improvement in the economy throughout 2011.

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