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Economy grew at a faster pace at end of 2011

Economy

Stronger hiring and higher pay and savings should support solid growth for the economy in coming months. That was a key message that emerged Wednesday from a report on economic growth in the final three months of 2011. The economy grew at a 3 percent annual rate in the October-December quarter, up from a previous estimate of 2.8 percent, the Commerce Department said.

 

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.

 

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