The U.S. economy seemed to rejuvenate itself during the third quarter. The Commerce Department reported last week that the gross national product grew at the respectable annual rate of 2.4% for the three months ending with September. The sharp improvement over the all but lifeless .6% growth in GNP that was posted during the second quarter at least momentarily quieted fears of a downturn. Says Walter Heller, a professor of economics at the University of Minnesota: "There is no recession in sight."
The comeback was fueled by a $42 billion increase in consumer spending, largely as a result of a surge...
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