Nov 30 12:08 PM US/Eastern
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By JEANNINE AVERSA
AP Economics Writer
WASHINGTON
The economy grew at a lively 4.3 percent pace in the third quarter, the best showing in more than a year. The performance offered fresh testimony that the country's overall economic health managed to improve despite the destructive force of Gulf Coast hurricanes.
The new snapshot of economic activity, released by the Commerce Department on Wednesday, showed the growth at an even faster pace than the 3.8 percent annual rate first reported for the July-to-September quarter a month ago.
The upgraded performance reflects more brisk spending by consumers and businesses as well as more robust investment on residential projects than initial estimates revealed.
"I've got some good economic news for our nation," President Bush said at a fund-raiser benefiting the Senate candidacy of Maryland Lt. Gov. Michael Steele. "America's workers and businesses have overcome the challenges of two hurricanes and high energy prices."
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