A Local 8 Weather Alert has been issued for Wednesday morning (the busiest travel day of the year), due to the cold rain and wet snow mix expected across East Tennessee. While it may be a cold rain in the Valley, drivers headed toward the Smokies or the Tri-Cities are more likely to encounter moderate wet snow showers. Please be advised.
WASHINGTON (AP) -- The U.S. economy has been growing at a faster rate than had been estimated earlier -- a 2.7 percent annual rate from July through September.
But economists believe growth is slowing to a rate below 2 percent in the current quarter because of disruptions from Superstorm Sandy and worries about sharp tax increases and spending cuts that would occur in January without a budget deal in Washington.
There's also word today that the number of new jobless claims fell for a second week in a row, after the storm drove applications much higher earlier in the month.