Economic growth is small but welcome

After a steady stream of confidence-sapping news, investors and consumers welcomed slightly more upbeat data Thursday that suggest that the economy, while sluggish, is still in growth mode.
None of the fresh economic readings on growth, jobs and borrowing costs points to a sharp acceleration soon. But together, they indicate that a much-feared double-dip recession is not a certainty, economists say.
The government revised the nation’s economic growth for the April-to-June quarter to 1.3% from 1%. That tiny rise in GDP, while still far below the 3% to 4% growth rate considered healthy, was enough to boost hopes that the economy could avoid another recession.

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