Economic Growth Picks Up During Final Quarter of '06
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WASHINGTON ---- The economy snapped out of a sluggish spell and grew at a faster--than--expected 3.5 percent pace in the final quarter of 2006 as consumers increased spending despite a painful housing slump.
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The pace of U.S. economic activity  continued to pick up in most of the country in late November  through early January, the Federal Reserve said on Wednesday.
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The Philippine economy maintained its solid growth in the first nine months of the year as gross domestic product (GDP) expanded by 6.5 percent, well on track of the governmentâs full-year target.
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The economy grew by 0.8 percent in the second quarter of this year compared with 0.7 percent during the first three months of 2007, according to official data published on Friday.
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The economy snapped out of a sluggish spell and grew at a faster-than-expected 3.5 percent pace in the final quarter of last year as consumers ratcheted up spending despite a painful housing slump.
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The U.S. economy appears to be  getting on a sustainable growth path with GDP expected to grow  2.8 percent in 2007, and the risks of inflation are slightly  higher than those of an economic slowdown, according to a  survey of economists released on Monday.
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The OECD is increasing its forecast for European economic growth in 2006, as recovery is well under way.
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The economy grew at a 3.7 percent annual rate in the third quarter _ a pace slightly better than in the spring but not as strong as many analysts expected.
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U.S. economic growth during the second quarter of the year was stronger than previously thought, the Commerce Department reported on Wednesday, partly because businesses built up inventories at the strongest rate in four years.
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The economy expanded by 3.0 percent during the first quarter of 2007 on a 12-month basis, official data showed on Friday.
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The Philippine economy continued to grow robustly in the third quarter despite rising consumer prices, with the gross domestic product expanding by 6.3 per cent from a year ago
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The economy grew at its strongest pace in more than a year during the spring as solid improvements in international trade and business investment helped offset weakness in housing.
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Annual growth in U.S. health-care spending increased slightly in 2006 and continued to outpace inflation and the nation's overall economic growth, government researchers said in a report released on Tuesday.
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The US economy grew at an annual rate of 3.3% in the spring, the government reported Wednesday in the final revision to second-quarter gross domestic product.
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The U.S. economy grew at an annual rate of 4 percent in the second quarter, as strong business investment led the fastest pace of expansion since early last year, the government reported on Thursday.
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Consumers  --  who play an important role in shaping economic activity  --  spent briskly in October, an encouraging sign that the final quarter of 2004 is getting off to a decent start. Incomes rose sharply.
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NEW YORK -- A closely watched measure of future economic activity rose for a second consecutive month in December, pointing to sustained, gradual growth.