Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
U.S. Economy Grew 2.5% In Third Quarter
By
Jen Chung
Published Oct 27, 2011
Modified Oct 27, 2011
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Oct 27, 2011
Modified Oct 27, 2011
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
The U.S. Commerce Department released the third quarter economic growth numbers: "Real gross domestic product— the output of goods and services produced by labor and property located in the United States— increased at an annual rate of 2.5 percent in the third quarter of 2011 (that is, from the second quarter to the third quarter) according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 1.3 percent." So, is this good news?
On the upside, this is the fastest GDP has increased in a year. A Barclays economist told Bloomberg News, "While the first half numbers led many to fear something worse, we continue be in a moderate growth recovery. Despite the fears consumers are turning more cautious, their spending has actually slightly outpaced their income."
However, the growth is, according to the NY Times, "still paltry — not brisk enough to recover the ground lost in the economic bust, lower unemployment or even dispel fears of a second recession." Another economist told the Times that beggars can't be choosers, "It ain’t brilliant, but at least it’s heading in the right direction. want to see 4 percent, but given that people were talking about a new recession, I’ll take 2.5 or 3, thanks very much."
Tagged
economic growth
economy
GDP
recession
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Mamdani will clear 10,000 families off waitlist for low-cost childcare
More than 16,000 families are on a waitlist for subsidized childcare after the program ran out of money.
By
Karen Yi
Published Oct 5, 2026 at 8:00 a.m. ET
In wake of Legionnaires' outbreaks, a debate over NYC's water and industry influence
An advocacy group backed by cooling tower companies wants the city to filter all the city’s drinking water. Some experts say it would be a waste of money.
By
Joe Hong
News
In wake of Legionnaires' outbreaks, a debate over NYC's water and industry influence
An advocacy group backed by cooling tower companies wants the city to filter all the city’s drinking water. Some experts say it would be a waste of money.
By
Joe Hong
New York state stockpiled abortion pills. Now they're all expired.
By
Jon Campbell
and
David Lombardo
NYC Council hearing to put AI risks in the spotlight
By
Carol Chen
A sixth person dies after falling ill in NYPD custody this year
By
Ryan Kost
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .