US economy to grow by 3.5 percent in 2005: White House
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The US economy is expected to slow to a still-solid 3.5 percent growth pace in 2005, allowing it to trim a record budget shortfall, the White House said.
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The Commerce Dept. today estimated that the nation's gross domestic product expanded at an annual rate of 3.1 percent.
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The Australian government Tuesday revised down its forecast for gross domestic product next year to 3 percent. In May, the government had projected GDP for the fiscal year ending June 30, 2005, to reach 3.5 percent.
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The US economy has pulled out of a midyear pause and should grow well for the rest of 2004, Federal Reserve Governor Susan Bies said on Saturday, adding that
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The US 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 US economy grew at a healthy 3.7% 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 Friday.
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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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Most forecasts run 5 to 6 percent above 2005, promising a lift for the US economy.
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WASHINGTON : The US economy&#39;s &quot;soft patch&quot; was not as weak as initial estimates, according to government data Wednesday showing a 3.3 percent pace of expansion in the second quarter.
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The OECD revised the growth projections for its major members. The growth of the US economy this year is likely to be 4.3 percent, instead of an earlier forecast of 4.7 percent, it said.
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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 Commerce Department said Friday that the economy grew at a 3.7 percent annual rate in the third quarter  --  less than economists expected.
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The White House predicted the economy would escape a recession and unemployment would remain low this year, though it acknowledged growth had already slowed.
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The U.S. economy should experience slower growth than originally anticipated for the remainder of the year and in 2007, the White House said Tuesday.
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The US economy may grow 4 percent this year and has begun an ``expansion phase,&#39;&#39; said John Taylor, the Treasury&#39;s undersecretary for international affairs.
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US News, CHICAGO - US economic growth is expected to slow in 2005 due to rising interest rates and high crude oil prices, according to a forecast of participants at a Federal Reserve Bank of Chicago conference released on Monday.
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The White House and U.S. lawmakers moved closer on Wednesday to agreement on an election-year economic package that President George W. Bush said would be "robust" enough to lift the economy out of the doldrums.