National Economy grows to tread water state, local economy fares better

In a mild surprise third quarter growth in the U.S. GDP reached 2.5%, almost doubling second quarter growth, according to the Commerce Department. In Louisiana job growth continues with the New Orleans area adding almost 11,000 jobs between September 2010 and September 2011. The metro area unemployment rate in September was 6.9%.

4th quarter growth at 5.7%

The Commerce Department today released 4th quarter GDP figures. The 5.7 growth rate was the fastest growth since 2003. However, of some concern is that much of the growth (3.4 of the 5.7) was derived from businesses building inventory.