Reuters is reporting that "Gross domestic product climbed at a revised 4.9 percent annual rate instead of 3.9 percent reported a month ago. It was the strongest quarterly growth rate since the third quarter of 2003 when GDP surged at a 7.5 percent rate and slightly exceeded Wall Street economists’ forecast for a 4.8 percent rate of increase."

Perhaps the recession will start in the fourth quarter, or not at all. It does seem that housing and fuel prices did not pull the ship under.

Douglas A. McIntyre