Business & Economy
Immigration Reform
The U.S. economy grew at its fastest pace since 2003 in the third quarter on stronger consumer and business spending.
Gross domestic product (GDP) expanded at a seasonally adjusted annual rate of 5% in the three months ended Sept. 30.
Consumer spending shot up 3.2%, much faster than the 2.2% previously estimated, led by higher health care outlays.
A measure of business investment rose 8.9%, including a healthy 11% rise in equipment spending, as companies continued to replace worn equipment and expand capacity to meet rising demand.
Government spending also increased more rapidly than estimated at 9.9%, bolstered by a big jump in defense expenditures.
And business stockpiling slowed less than previously estimated.
The gains more than offset a modest downward revision in export growth to 4.5%.
Job growth totaled 321,000 in November, nearly a two-year high."
"a new gold rush in Silicon Valley and a resurgent American economy;
the gap between America, where growth is accelerating, and almost everywhere else, where it is slowing.
Jobs are being created in their country faster than at any time since 1999, cheap petrol has buoyed consumer spending and business investment has picked up."
"America was, America is, and America will continue to be leading Nation in the World."
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Immigration Reform
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