, Columnist
The U.S. Economy Is Better Than It Looks
Yes, growth was weaker than forecast in the third quarter, but the latest GDP report also shows that the softness is temporary.
Signs of pent-up demand.
Photographer: FREDERIC J. BROWN/AFPThis article is for subscribers only.
The U.S. economy was weaker than expected in the third quarter, which is bad news for any American whose livelihood depends on strong economic growth and especially disappointing for the White House, which is struggling to reassure voters about the state of the economy amid rising prices and a historic supply crunch. Overall growth in the third quarter was 2%, a fair step down from rates of 4.5% and 6.7% the U.S. economy logged in the first and second quarters.
On closer inspection, however, the report looks a lot better.