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Bloomberg reported that the U.S. has likely dodged a recession for now, based on a string of stronger-than-projected statistics and a 103,000 rise in payrolls last month as reported on October 7, 2011.
The article indicates that economists from Macroeconomic Advisers LLC and Goldman Sachs Group, Inc. have raised their growth forecasts for the third quarter to 2.5% from roughly 2% previously forecast. This raised forecast is nearly double the rate of 1.3% reported for the second quarter and the fastest growth in a year.