United States

    The US economy grew in the third quarter for the first time in more than a year, propelled by stimulus-driven gains in consumer spending and home building. The world's largest economy expanded at a 3.5 percent pace from July through September, exceeding the median estimate of economists surveyed by Bloomberg, after shrinking the previous four quarters, figures from the Commerce Department showed Nov. 4 in Washington. Household purchases climbed 3.4 percent, the most in more than two years." Economists surveyed by Dow Jones had forecast 3.2 percent GDP growth during the summer. The rise in GDP was the first since the second quarter of 2008. It served as an unofficial confirmation that the longest and deepest recession since the Great Depression has ended. (WSJ)

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