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US economy expands at 0.4 percent rate

The U.S. economy grew at a slightly faster but still anemic rate at the end of last year. However, there is hope that growth accelerated in early 2013 despite higher taxes and cuts in government spending. The Commerce Department says the economy grew at an annual rate of 0.4 percent in the October-December quarter. That was slightly better than the previous estimate of 0.1 percent growth. The revision reflected stronger business investment and export sales.

 

Consumer Spending in U.S. Increases 0.8% as Incomes Climb

Consumer Spending

Consumer spending in the U.S. climbed more than forecast in September, a sign the biggest part of the economy was picking up as the quarter drew to a close. Household purchases, which account for about 70 percent of gross domestic product, rose 0.8 percent, the most since February, after advancing 0.5 percent in August, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg survey of 71 economists called for a 0.6 percent gain. Incomes climbed 0.4 percent, the most since March.

 

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.

 

U.S. Economic Growth Is Revised Down to 2 Percent

The third quarter’s gross domestic product grew at a 2.0 percent annual rate, the Commerce Department said in a revised estimate, down from the previously estimated 2.5 percent.

 

Economy grew at weak 1.3 pct. rate in April-June period; slight improvement seen rest of year

The economy grew slightly faster in the spring than previously estimated but remained dangerously weak in the face of high unemployment and higher gas prices. Many economists foresee slightly better growth in the current July-September quarter. The annual growth rate was 1.3 percent in the April-June quarter, up from an estimate of 1 percent made a month ago, the Commerce Department said Thursday. The improvement reflected modestly more consumer spending and a bigger boost from trade.

 

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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