Third quarter winners and losers
October 31, 2008 at 2:56AM
PERSONAL SPENDING
-3.1%
It's the first quarterly drop in consumer spending in 17 years.
IMPORTS
-1.9%
That's less than the 7.3 percent drop in the second quarter.
EXPORTS
+5.9%
Without this increase in exports, the gross domestic product would have slid 1.1 percent.
FEDERAL SPENDING
+ 13.8%
Military spending was the key driver, rising 18.1 percent.
Note: Percentages are annual rates
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A spinoff company has been formed to produce a hormone supplement that reduces lung damage, but researchers still need to convince federal regulators of its safety and effectiveness.
