The advance estimate for US Q3 GDP shows 2.5 percent real growth, the best this year. The economy has finally passed its previous peak output (Q4 2007), so the recovery phase of the business cycle is over an the economy has entered the expansion phase

1. Data for the Classroom from Ed Dolan’s Econ Blog http://dolanecon.blogspot.com/ US GDP: Q3 Growth Stronger, Economy Finally Enters Expansion Posted Oct 27, 2011 Terms of Use: These slides are made available under Creative Commons License Attribution—Share Alike 3.0 . You are free to use these slides as a resource for your economics classes together with whatever textbook you are using. If you like the slides, you may also want to take a look at my textbook, Introduction to Economics , from BVT Publishers.