economy came out just minutes ago. christine roman has those and then zain verjee looking at reaction to a deal made on the debt crisis and alison kosik at the new york stock exchange where your 401(k) could enjoy a big day. christine, let s go ahead and start with you. before we focus on the big debt deal, if you don t mind, let s talk about what this means. tell us about the economy and the good news we re getting. all right, first of all, gdp. how the economy grew in the most recent quarter. the third quarter. 2.5% kyra. that s twice as fast as it was in the second quarter. it shows you there was a pickup in economic activity in the third quarter. and that is the best in a year. so, kyra, that tells us that the economy is doing a little better, it needs to be better than 2.5%, but that is better than it has done in about a year. that is good news about where the economy is going right now. the overnight deal on the european debt crisis. let s talk about how this has im
in greece scuffling with police near the parliament building in athens, police detaining at least one student. we ve seen clashes like that in greece over the last couple of months but this was an otherwise peaceful protest against education cuts at state-run schools. this comes amid the debt crises and fear that the government will not be able to pay for the loans it needs to avoid default. jon: shouldn t they northbound class? jenna: that s a good question. jon: entire villages under water, leaving thousands stranded in the philippines, homes and buildings, islands now, people are clinging on to their rooftops waiting for help, many refuse to leave because of looters. the philippines struggling to recover from its second typhoon in a week. sixteen people have died in the two storms. jenna: he entered the race with a bang and conservative texas governor rick perry shot up in the polls right away, but now controversy could be coaling off his red hot campaign.
that s probably preferable, given the way the republican majority has tried to prevent and obstruct any kind of collective progress. the only trouble is, funding for fema may run out this week, and that means the strong possibility of a total shutdown, unless an agreement is reached on the overall funding of the government through november the 18th. sounds familiar, doesn t it? in april, there was a similar showdown over a shutdown. then there was the debt ceiling row, something most of us hadn t even heard of until mr. cantor and boehner realized they could use it for their own purposes. the president has said that the american people devoted for divided, not dysfunctional government. but congress has been behaving more like a foreign government. actually, that s unfair to foreigners. compare what s happening in washington with what s going on in europe. the your zone comprises no less than 17 separate nations. since the financial crash of 2008, several countries have faced catastroph
robert, second day of a pretty bad slump. reporter: it started with the fed yesterday. they spooked investors with that statement after their policy meeting ended when they put out a statement that they saw significant risks to the down side for the economy. we have been talking about this for several months and years in some cases about whether the economic recovery was going take hold. and in fact the feds underscoring that yesterday seems to have shaken confidence. we saw stocks selling off almost instantly. but almost immediately after that you saw stocks moving lower. it continued overnight. we had disappointing manufacturing data out of china indicating their economy is slowing down as well. europe of course embroiled in a debt crisis. the fed mentioned the debt crises and allude together ones here and in europe in its statement. so a lot of focus on that.
reporter neil irwin joins me now. now we this drop on the european markets yesterday. ours being closed for the holiday. when are we going to see an end to this wild market movement? is there any way to put a predictor on that? unfortunately not something we can control in the united states. we ll see an end to the wild swings when europeans get their act together. when there s a sense european governments are finding a way to resolve their debt crises that doesn t result in some catastrophic decline in european markets. the truth is the news out of the u.s. was pretty good. we got a good report on the tourist industry, that it was accelerating in august. that wasn t enough to counteract the downdraft from the crisis in europe. europeans are probably waiting to see if americans can get their act together. when we talk about what the president is going to say on thursday night, do you think that president obama can play the role of ben bernanke, has in so many times, as we come to t