U.S. GDP hits 3.5% pace in Q3

The U.S. economy posted its second straight quarter of solid growth.    The U.S. economy grew at a healthy annual rate of 3.5 percent in the third quarter on the strength of exports, business investment and military spending, according to the Commerce Department’s preliminary estimate Thursday.
   Exports of goods and services increased 7.8 percent in the third quarter, compared with an increase of 11.1 percent in the second. Imports decreased 1.7 percent, versus an increase of 11.3 percent in the previous period, as retailers pre-ordered merchandise for the holidays to avoid potential port disruptions. Imports actually detract from productivity, so a decline helps boost GDP.
   The economy grew 4.6 percent in the second quarter. With the unemployment rate now below 6.5 percent, economic analysts say the United States appears to be on its strongest footing in years.