The U.S. economy expanded more than forecast in the third quarter, paced by a pickup in consumer spending, a rebound in government outlays and gains in residential construction.
Gross domestic product, the value of all goods and services produced, rose at a 2 percent annual rate after climbing 1.3 percent in the prior quarter, Commerce Department figures showed today in Washington. The median forecast of 86 economists surveyed by Bloomberg called for a 1.8 percent gain.
I don't know if the majority of Americans are better off than they were four years ago, before the Bush economic meltdown hit bottom. But a majority are certainly better off than they were two years go. And that makes it tougher for Romney to convince voters that we need to move in a different direction.