Economy grows 2.5 percent in 3Q

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The U.S. economy grew at a 2.5 percent clip in the third quarter of 2011, buoying hopes that the country is holding off another recession.

The Commerce Department said Thursday that U.S. GDP expanded at an annual rate of 2.5 percent in the July-September quarter.

The economy grew at a 1.3 percent pace in the April-June quarter and showed 0.9 percent growth for the first six months of the year.

Consumer spending grew 2.5 percent in the third quarter.

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