U.S. Economy weakest in three years (GDP rate down from 2.6 to 1.6)

The U.S Economic growth in the third quarter shows that it slowed to the weakest point in more than three years. It was not expected, the analysts had forecasted something else.

Gross Domestic Product (GDP) in the latest quarter shows a growth of 1.6 percent which was 2.6 in the last quarter, said by the Commerce Department. Economists had forcasted a slowdown to 2.1 percent.

Slower than expected ecomomic growth isn't positive, while some economists indicated that the economy will bounce back in the current quarter, helped by lower energy prices. Spending of the consumers came in a bit weaker than expected.

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The Earnings of Google! Next stop $500?

Google reported the third quater sales and earnings or profits. Google has broken the estimation of the experts and analyst regarding the profit for online advertising.

The value of Google's share shot up or increased about 7 percent after the market closed Thursday. Google stock soared up near $457 early Friday and it is not far from its all time high. Citigroup hiked its price target to $600.

California-based Google reported sales of $2.69 billion, up 70 percent from a year earlier. It is excluding the advertising revenue that the company shares with partners, Google's sales were $1.87 billion, ahead of Wall Street's forecast of $1.81 billion in sales on this basis.

The company reported net income of $733 million, or $2.36 a share, up 92 percent from the same period last year. Google posted a profit, not including certain gains and charges, of $2.62 a share. That exceeded consensus estimates of $2.42 a share.

Google gaining momentum:

Google is gaining its market share value in search at the expenses of Yahoo, MSN and others. Web traffic research firm "Nielsen/NetRatings" reported that Google has increased its search upto 24 percent from its early year. Yahoo's search volume climbed up just 12 percent and MSN fell 12 percent from its last year search. But the experts think Yahoo could become the tougher competitor to Google now that it has finally launched its new search technology for Advertisers, code-named project "Panama".