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Title: U.S. economy picked up speed as 2010 ended
Source:
Reuters
URL Source: http://www.msnbc.msn.com/id/41310447/ns/business-eye_on_the_economy/
Published: Jan 28, 2011
Author: Reuters
Post Date: 2011-01-28 09:12:30 by go65
Keywords: None
Views: 29602
Comments: 52
WASHINGTON — The U.S. economy gathered speed in the fourth quarter, though a touch below expectations, with the biggest gain in consumer spending in more than four years and strong exports offering the clearest signals yet that a sustainable recovery is under way. Even with growth quickening, however, progress reducing unemployment has been painfully slow, and the report on U.S. gross domestic product on Friday is little comfort for millions of unemployed Americans or the Federal Reserve officials on a jobs-creation vigil. The economy grew at a solid 3.2 percent annual rate in the final three months of 2010, the Commerce Department said, after expanding at a 2.6 percent pace in the third quarter. The rise was a touch below economists' expectations for a 3.5 percent rate. For the whole of 2010, the economy grew 2.9 percent, the biggest gain since 2005. The economy contracted 2.6 percent in 2009.
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#1. To: All (#0)
(Edited)
And "the stimulus didn't work" argument comes to an end.
Happy days are here again?
Before Obama Took Office, The FY 2009 Deficit Was Projected At $1.2 Trillion. As reported by the Washington Times: "The Congressional Budget Office announced a projected fiscal 2009 deficit of $1.2 trillion even if Congress doesn't enact any new programs. [...] About the only person who was silent on the deficit projection was Mr. Bush, who took office facing a surplus but who saw spending balloon and the country notch the highest deficits on record." [Washington Times, 1/8/09d]
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#2. To: go65 (#1)
And "the stimulus didn't work" argument comes to an end.
#8. To: Happy Quanzaa (#2)
(Edited)
Replies to Comment # 8.
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