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The U.S. economy has exceeded previously estimated rates showing a 0.3% increase from the second quarter of the year to the third quarter, averaging an annual rate of 2.8%. The Bloomberg news had previously said that the annual growth rate of the U.S. economy in the third quarter of this year would be approximately 2%. Many experts are now expecting the increase to eventually end the fiscal drag. Economist for RBS Securities, Guy Berger said, “the fiscal drag will dissipate, but we’re far from takeoff.” More here
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