Economy Grows In Summer At Best Pace In 4 Years

WASHINGTON (AP) -- The economy grew at its best pace in four years this summer.

The Commerce Department says the nation's gross domestic product grew 4.9 percent from July through September. That's better than the government's initial estimate of a 3.9 percent growth rate for the period. The main reasons for the jump: stronger U.S. exports and more inventory investment.

Still, that strong performance isn't expected to last through the current quarter. Instead, the economy is predicted to lose steam through the remainder of this year and grow just 1.5 percent, mostly because of the housing slump and credit crunch.


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