Fed: US economy grew at steady pace in October and early November; Northeast slowed by Sandy

  • Article by: MARTIN CRUTSINGER , Associated Press
  • Updated: November 28, 2012 - 3:00 PM

WASHINGTON - A pickup in consumer spending and steady home sales helped lift economic growth from October through early November in most parts of the United States, according to a Federal Reserve survey released Wednesday. The one exception was the Northeast, which was slowed by Superstorm Sandy.

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ciamanNov. 28, 12 1:48 PM

Sorry, but I have seen all of this before. Yes, there was a small lift in buying of homes, but if you checked the Networks this week, those numbers are now falling. So much for that. And the average American has not had a pay raise since 1986. And in the last 19 quarters only one was positive. In truth, people are making less than their parents did and how can those low paid young people keep up with the spending? I do not see it and cars are falling down also. This is just more jumbo/mumbo to make people feel good.

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vegas2112Nov. 28, 12 3:12 PM

This will come as horrible news to the tea party/ fox news crowd.

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9moonsNov. 28, 12 3:17 PM

ciaman, you are looking at the economy of the last 30 years. The article is referring to the economy of the last several years.

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dentesterNov. 28, 12 4:10 PM

Notice how the article never mentioned the unemployment rate nor the allegedly better "growth" rate. This is nothing more than propoganda designed to encourage economic activity when smart people are hunkering down.

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J_DubyaNov. 28, 12 4:43 PM

But I thought Mitt Romney said the economy was getting worse under Obama? SO glad enough Americans didn't fall for it...

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lawstarNov. 28, 12 6:26 PM

If you think the economy is improving just drive five miles in either direction (north or south) on 169 from its intersection with 394 counting the number of commercial buildings with "for lease" or "for sale" signs on them with empty parking lots in front of them. Then turn around and head back and count the number on the other side of the highway and when reaching 394 again pull over and total the number. Then tell yourself the economy is improving.

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bluemocoNov. 28, 12 8:36 PM

lawstar - You might see those signs for now, but they won't be there long. One example is the big Colonnade apartment complex to be built in Golden Valley. When Trammel Crow laid plans to build the 173-unit complex @ 394/Xenia, a big amenity they liked was the proximity to the successful "Shops at West End". There are other developments for that area in the works, too. But don't take my word for it - look up some news about plans for the "Flats at West End" or the "Three Nine Four". Of course, commercial space in the 1600 Tower is rapidly filling, too. My point is that the economy IS improving, if you actually know what to look for.

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lawstarNov. 28, 12 9:17 PM

bluemoco. The new developments you cite will do nothing to fill the empty commercial buildings I pointed to that once housed viable businesses.

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cks1950Nov. 28, 1210:03 PM

Subtract back out the quantitative easing that's been going on for the last four years & this country isn't growing at all.

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arielbenderNov. 28, 1210:48 PM

Uh oh...economic good news. Cue the usual cast of characters to stumble over themselves attempting to dispute it. It's always amusing that if it's good news they never believe it, but if it's bad news it MUST be true.

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