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Economy grew modest 2.8 pct. in Q4, best in 2011

Plymouths and Dodges

The U.S. economy grew at a modest 2.8 percent in the final three months of last year, the fastest growth in 2011. Americans spent more on cars and trucks, and companies built up their stockpiles. But growth in the October-December quarter — and all of 2011 — was held back by the biggest annual government spending cuts in four decades. The Commerce Department says the economy grew just 1.7 percent last year, roughly half of the growth in 2010 and the worst since the recession.

 

Durable goods orders hint at broadening recovery

New orders for long-lasting U.S. manufactured goods rose 1 percent in September, Commerce Department data showed on Wednesday, suggesting that the economy's wobbling recovery from recession may be steadying.

 

GDP report is likely to show recession eased in 2Q

GDP report is likely to show recession eased in 2Q

The recession likely eased in the spring, with the U.S. economy no longer in free-fall. Many analysts predict that when the Commerce Department releases its first estimate of second-quarter activity Friday, it will say the economy shrank at a 1.5 percent pace from April though June. If they are correct, it would mark a vast improvement from the 5.9 percent annualized drop recorded over the prior six months – the weakest showing in 50 years.

 

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