Economy surged over summer but is losing momentum as year ends:
WASHINGTON – The economy sprinted ahead at its fastest pace in four years during the summer, although it is expected to limp through the final three months of this year as the housing and credit debacles weigh on individuals and businesses alike. The Commerce Department reported Dec. 20 that gross domestic product grew at a 4.9 percent pace in the July-to-September quarter, unchanged from an estimate made a month ago. The performance was especially impressive given that the housing market…