Economic Development

U.S. gross domestic product for the July-through-September period expanded 2.5 percent, nearly double the 1.3 percent rate of growth in the second quarter and much faster than the first quarter’s tepid increase of 0.4 percent.

Germantown-based Lightning Pick Technologies was recently acquired by Matthews International Corporation, a Pittsburgh memorials and graphics imaging manufacturer.

Financial resources

New hires and promotions

Harley-Davidson Inc.’s remarkable recovery continued in the third quarter, as the Milwaukee-based company’s net income grew to $183.6 million, or 78 cents per share, from $88.8 million, or 38 cents per share, in the same period a year ago.

Chicago-based Northern Trust Corp., which has an office in downtown Milwaukee, reported third quarter net income of $170 million, or 70 cents a share, up from $155.6 million, or 64 cents, in the same period a year ago.

Milwaukee-based Sensient Technologies Corp., a manufacturer of colors, flavors and fragrances, announced it has reached agreement to acquire its joint venture partner’s interest in Sao Paulo, Brazil-based Les Colorants Wackherr do Brasil.

Wauwatosa-based Briggs & Stratton Corp. reported a net loss of $5.2 million during its fiscal first quarter, a 35.7 percent improvement compared with its net loss of $8.1 million during last year’s fiscal first quarter.

Snap-On Inc. is the latest Wisconsin manufacturer to post impressive third quarter results, as manufacturing remains one of the few strong spots in the economy.

Milwaukee-based M&I Bank ranks No. 1 in overall satisfaction by small business banking customers, according to the J.D. Power and Associates 2011 U.S. Small Business Banking Satisfaction Study of 24 national banks released.