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The Economy Picks Up the Pace

The economy quickened from a crawl to a jog in the third quarter, with GDP climbing 4.1%…the fastest pace in almost two years.

The gains were due in large part to a 4.8% rise in business spending. In a show of confidence about demand, business inventories increased by $115.7 billion, the biggest gain in three years. That comes, of course, with a note of caution: fourth quarter GDP could be restrained by a slowdown in the rapid pace of inventory accumulation.

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