An interesting article from Free Enterprise by Marty Regalia
The U.S. economy continues to expand at a meager pace roughly in line with its long-run potential rate of growth. In the third quarter of 2012, real GDP grew at an annual rate of 2.7% after growing 1.3% in the second quarter. The growth was almost entirely accounted for by inventory accumulation. The core drivers of growth— consumption and business investment—were quite weak and were revised lower in the most recent GDP report. There was an uptick in federal spending, but with the ongoing negotiations on the fiscal cliff, that is not expected to continue.