White House welcomes economic growth, says prices still high

The White House welcomes the latest report on the economy, even as many Americans don’t feel good about their economic situation. New Commerce Department figures show the U.S. economy grew at a healthy 2-point-8 percent annual rate from July through September. White House economic adviser Jared Bernstein welcomed the report, but also explained that still-too-high prices are why Americans still have a dim view of the economy. Last quarter’s growth was fueled by higher consumer spending, which accounts for about 70 percent of the country’s economic activity.