LOCAL 8 WEATHER ALERT: Flooding is a concern as more waves of heavy rainfall and storms move through our area today. Strong to severe storms are possible as well, including gusty winds. Watch for water-covered roads and creeks and streams to run high. Remember TADD, turn around don't drown.
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.
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