The economy contracted from July through September, the government reported, while consumer spending dipped for the first time in 17 years.

Stocks closed higher after swinging across a wide range as investors weighed a painful economic report against signs that the flow of credit had been restored.

Stocks closed higher after swinging across a wide range as investors weighed a painful economic report against signs that the flow of credit had been restored.

In an election likely to be decided by the economy, the latest batch of dismal data offered no comfort to the Republican nominee, Senator John McCain.

The government said gross domestic product expanded at a 2.8 percent rate from April through June, rather than the 3.3 percent rate it estimated a month ago.

The G.D.P. is all well and good, but as a stand-in gauge for the nation’s overall well-being, this supernumber is less than perfect.

Gross domestic product increased at a 3.3 percent annual rate in the quarter, the government said.

Wall Street stocks rose after a better-than-expected reading on the gross domestic product and a decline in jobless claims reassured investors.

Wall Street stocks rose after a better-than-expected reading on the gross domestic product and a decline in jobless claims reassured investors.

Despite gloomy economic data, the stock market was little changed for the week.