Submitted by CARPE DIEM

WASHINGTON (MarketWatch) — The U.S. economy expanded at the fastest pace in four years during the third quarter, growing at a real annual rate of 4.9%, the Commerce Department reported today in making its second estimate of growth for the three-month period.

The 4.9% growth rate during the summer of 2007 was only the second time in the last 29 quarters that the economy expanded at close to a 5% rate, and it was the strongest growth rate for the economy in 4 years (see chart above).

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