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Saturday, February 26, 2005

Bad Economy?

Economic Growth Is Stronger Than Expected

My Way News
By JEANNINE AVERSA

WASHINGTON (AP) - The economy clocked in at a 3.8 percent pace in the final quarter of 2004 - faster than initially thought - and is now cruising at that speed or better. That could be good news for jobless people hoping for companies to increase hiring.

In the newest reading on the economy's fitness, the gross domestic product exceeded a previous estimate of a 3.1 percent annual growth rate for the October-to-December quarter, the Commerce Department reported Friday. GDP measures the value of all goods and services produced within the United States.

The improvement reflected more robust spending by businesses on capital equipment and on inventories of goods. The trade deficit also was less of a drag on fourth-quarter growth than initially thought.

Although economic growth in the final quarter of last year was a bit slower than the third quarters' 4 percent, the performance was still solid.

"We are now at a comfortable cruising altitude," said Lynn Reaser, chief economist at Banc of America Capital Management. "What is significant is that all parts of the economy were pulling their own weight."

Full article here.


Yet Democratic leaders still try and portray our economy as less than positive...


 
conservativerebel.blogspot.com: Bad Economy? <body>

conservativerebel.blogspot.com

Saturday, February 26, 2005

Bad Economy?

Economic Growth Is Stronger Than Expected

My Way News
By JEANNINE AVERSA

WASHINGTON (AP) - The economy clocked in at a 3.8 percent pace in the final quarter of 2004 - faster than initially thought - and is now cruising at that speed or better. That could be good news for jobless people hoping for companies to increase hiring.

In the newest reading on the economy's fitness, the gross domestic product exceeded a previous estimate of a 3.1 percent annual growth rate for the October-to-December quarter, the Commerce Department reported Friday. GDP measures the value of all goods and services produced within the United States.

The improvement reflected more robust spending by businesses on capital equipment and on inventories of goods. The trade deficit also was less of a drag on fourth-quarter growth than initially thought.

Although economic growth in the final quarter of last year was a bit slower than the third quarters' 4 percent, the performance was still solid.

"We are now at a comfortable cruising altitude," said Lynn Reaser, chief economist at Banc of America Capital Management. "What is significant is that all parts of the economy were pulling their own weight."

Full article here.


Yet Democratic leaders still try and portray our economy as less than positive...