Third quarter growth fastest in four years
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The U.S. economy expanded at its fastest rate in four years during the third quarter, the government confirmed on Thursday, though it has slowed sharply since and is expected to keep doing so in 2008.
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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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The manufacturing sector grew at its quickest rate in three months in October although company costs rose faster than at any point in nearly a decade, a survey shows.
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The U.S. economy grew at an annual rate of 3.3 percent in the spring, the government reported Wednesday. That was significantly better than a previous estimate but still the weakest showing in more than a year.
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The UK economy expanded at its fastest clip in three years in the third quarter, driven by services.
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The U.S. economy grew at a healthy 3.7 percent annual rate in the third quarter this year, bolstered by strong consumer spending and accompanied by the lowest inflation in decades, the Commerce Department said on Friday.
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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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Robust consumer spending on cars, furniture and food helped the US economy advance faster than first thought in the third quarter, a government report showed, while underlying inflation was the tamest in decades.
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The economy revved up its engine in the third quarter and advanced at an annual rate of 4 percent --  even faster than previously thought.
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The results surpassed Wall Street's expectations in both sales and profit, with fourth-quarter earnings reaching $3 billion for the first time in the company's history.
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The U.S. economy grew at its fastest  rate in four years during the third quarter, the government  confirmed on Thursday, but a surge in new claims for jobless  benefits showed the labor market is softening.
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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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The economy revved up its engine in the third quarter and advanced at an annual rate of 4 percent_ even faster than previously thought.
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Investor's Business Daily - That annualized growth rate, unrevised from the prior estimate, is the fastest in 4 years. Exports surged and companies built up their inventories, the gov't said. But a deepening housing slump and weaker job growth has dampened the outlook for Q4, which has many economists predicting growth of 1% or less.
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Economic growth slowed a bit in the final stretch of 2004, expanding at a still respectable 3.1 percent pace. For all of last year, though, the economy clocked in at its fastest clip since 1999, a compelling sign that the recovery is more deeply rooted.
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U.S. business productivity mounted at a much stronger-than-expected 3.0 percent annual pace in the fourth quarter, according to government data on Wednesday, while unit labor costs rose slightly less than predicted.
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WASHINGTON - The economy headed into the end of the year with good momentum, expanding at an annual rate of 4 percent in the third quarter, a faster clip than previously thought.