Economic Growth Better Than Thought
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The US economy grew faster in the second quarter than previously thought as business inventories rose at the strongest rate in four years, the government said on
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WASHINGTON -- The economy grew at a 2.9 percent annual rate in the spring _ better than first estimated but nowhere near the brisk pace logged in the winter, another sign of slowing business growth. Inflation marched higher.
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The UK economy grew at an annual rate of 3% in the first quarter of the year, raising the chances of more rate hikes.
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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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This year should mark another year of growth in the United States. That is hardly remarkable. What is remarkable, and perhaps unappreciated, is that growth has become the norm for the American economy.
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As 2004 draws to a close, it should come as heartening news that this past year was one of the most prosperous in history. Not because the American economy grew by a solid 4.3 percent.
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Australia's economy grew faster than expected in the three months to June, fuelled by strong investment.
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Sometimes great growth is where you least expect it.
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U.S. economic growth leapt ahead at  an upwardly revised 5.6 percent annual rate in the first  quarter, helped by lower imports than first thought and  generating strong corporate profits, the Commerce Department  said on Thursday.
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India's economy grew at a faster-than-expected annual rate of 9.3% in the second quarter,  official figures say.
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The US economy grew more quickly than previously thought in the three months to June, official figures suggest.
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The gross domestic product expanded at an annual rate of 4 percent in the April-June quarter, significantly higher than the government had estimated, the Commerce Department said.
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World economic growth will be higher than previously thought at 5.1% in 2006 and 4.9% in 2007, the IMF predicts.
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The economyâs 6.2-percent gross domestic product (GDP) growth in the second quarter may have exceeded expectations, but the stock market nonetheless shrugged off the positive news.
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German Gross Domestic Product grew unexpectedly strongly in the second half of last year.
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The economy grew at its strongest pace in more than a year during the spring as international trade and business investment helped offset weakness in housing, the government said.
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Increased spending by consumers and business helps US economic growth rise at a higher-than-predicted rate in the July to September period.