31 Oct 2003 “Trick or Treat?”

The economy grew 7.2% from July through September.  That’s the fastest growth rate since 1984 and more than twice that of the second quarter.  For the first time in history, the economy exceeded $11 trillion, before adjustments for inflation, according to Bloomberg.  Consumers spent at the fastest pace in six years and businesses showed strong increases in fixed investments.  Numerous retailing managers have said their businesses improved noticeably after President Bush signed the tax-cut bill into law in July.  Non-retailers are also joining the recovery.  Profits of 375 members of the S&P 500 companies are up an average 22%.