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US Economic Growth Rate Improves

The U.S. economy grew at a slightly faster 2 percent annual rate from July through September, buoyed by more spending by consumers and the federal government.

Growth accelerated from the 1.3 percent rate in the April-June quarter, the Commerce Department said Friday. Even with the increase, growth remains too weak to rapidly boost hiring.

The report is the last snapshot of the economy before Americans choose a president in 11 days.

Republican nominee Mitt Romney has criticized President Barack Obama’s handling of the economy and has noted that the pace of growth has slowed from last year. The 1.74 percent annual growth rate for the first nine months of 2012 remains slightly behind last year’s 1.8 percent growth.

Source: WP

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