Economy Surged 4.2% in Quarter And Inflation Rate Slipped Again
Surpassing nearly all expectations, the economy rebounded vigorously over the summer to grow at a 4.2 percent pace while inflation, already low, subsided further, the Commerce Department reported today. The Clinton Administration sought to turn the combination of swelling output, steady prices and the likelihood of brighter prospects for job growth to its advantage as the White House enters the final stages of budget negotiations with the Republican-controlled Congress.
