Obama says economy moving in 'right direction'

US President Barack Obama said Saturday the United States was recovering from deep recession and that "hundreds of thousands of jobs" had been created through massive investments.
The president cited this week's report on gross domestic product, pointing out that in the third quarter, GDP grew for the first time in over a year -- and faster than it has in the previous two years.
"Today, I am pleased to offer some better news that - while not cause for celebration - is certainly reason to believe that we are moving in the right direction," the president said in his weekly radio address.
Obama said the 787-billion-dollar Recovery Act stimulus package passed earlier this year had helped create or save over one million jobs.
Data posted on Recovery.gov, the website of the independent panel overseeing the stimulus measure, showed 640,329 jobs directly saved or created up until September 30.