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NEW YORK (CNNMoney.com) -- The U.S. economy grew at a 3.5% annual rate in the third quarter, ending a string of declines over four quarters that resulted in the most severe slide since the Great Depression. But some economists raised doubts about how long such strong growth can last.
The increase in GDP, reported by the government Thursday morning, was slightly better than expectations. Economists surveyed by Briefing.com had forecast 3.2% growth in gross domestic product, the broadest measure of the nation's economic activity. The economy shrank at a 0.7% rate in the second quarter.
The positive GDP report is one more sign that the economy has likely pulled out of the deep recession that started in December 2007.
I wonder how much of that is government spending?
Where we're headed: Stocks have rallied at a torrid pace since March, even though the economy has shown only tepid signs of recovery. Stock market predictions are notoriously unreliable. Many analysts think that stock prices are too inflated and that the market is due for a correction.