by CIO Staff

U.S. economy grew despite hurricane wrath.

Oct 28, 20051 min

According to a Reuters story on Yahoo News, the U.S. economy grew at a faster-than-expected 3.8 percent annual rate in the third quarter. The Commerce Department report showed that, despite a buffetting by Katrina and Rita, strong spending by consumers and by the government helped power the expansion. The gross domestic product — the measure of all goods and services produced within U.S. borders — accelerated from the second quarter’s 3.3 percent rate.