Reply #4: Economic reports point to bumpy recovery

[ozymandius]

NEW YORK (Reuters) – Regional economic reports on Monday suggested the U.S. economy has clambered back to levels associated with the end of recession, but recovery will be patchy and may prove fleeting.

Economic activity and manufacturing data for the U.S. Mid West and Texas hinted the impact of the global financial crisis is slowly abating as the economy emerges from the longest recession in 70 years.

.....
According to the median forecast of economists polled by Reuters, the U.S. economy grew 3.3 percent in the third quarter after shrinking 0.7 percent in the second quarter.

Market participants will also be watching to see if the Federal Reserve changes its language on quantitative easing measures and future interest rate decisions in response to the shifting economic conditions at the central bank's two day, Nov 3-4 policy-setting meeting next week .

http://news.yahoo.com/s/nm/20091027/ts_nm/us_usa_economy

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Ummm.. Have economists forgotten that the growth was artificially stimulated through government spending programs? And that of all job losses, combined over the past two years, 50% are considered permanently destroyed?