Zandi on 2013: Strong Housing, Modest Growth and Job Creation

The U.S. economy grew at a 3.1% annual rate in the third-quarter, more than previous government estimates of 2% and 2.7%. The July to September quarter was the nation’s fastest rate of growth since the fourth-quarter of 2011. Inventory investment was the main driver of economic growth in Q3 according to the Commerce Department. Stronger trade, increased consumer demand for durable goods and health care services as well as a rebound in local, state and federal defense spending also contributed to higher growth. The economy expanded at a 1.3% rate in the second-quarter.

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