Economy grows 3.5 percent in fourth quarter
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The U.S. economy grew at a stronger-than-expected pace in the final quarter of last year, boosted by robust spending and slowing inflation that more than offset the biggest decline in housing activity in 15 years, a government report on Wednesday showed.
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The nation's fourth-largest bank plans to shore up $3.5 billion
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Its results from the fourth quarter continue recent solid trends.
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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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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 last year as consumers ratcheted up spending despite a painful housing slump.
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The latest snapshot shows an economy that has returned to a moderate economic expansion of about 3 percent. At this pace, the economy is not growing fast enough to create large numbers of jobs
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WASHINGTON - The U.S. economy grew at an annual rate of 3.3 percent in the spring, the government reported Wednesday...
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US productivity grew at a stronger-than-expected 3% in the last three months of 2006, figures show.
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The US economy grew at a 4 percent annual rate from July through September, faster than previously estimated, suggesting an equally strong finish to the year.
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The national economy grew at a solid rate in the last three months, boosted by a rebound in consumer spending and another strong quarter of business investment, the Commerce Department reported yesterday.
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The U.S. economy grew at a revised  5.6 percent annual rate in the first quarter as the fastest  pace of growth in 2-1/2 years generated robust corporate  profits, the Commerce Department said on Thursday.
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U.S. business productivity rose at a  much stronger-than-expected 3.0 percent annual pace in the  fourth quarter while unit labor costs moderated, in good news  for the inflation-wary Federal Reserve.
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In a buoyant annual report, President Bushâs Council of Economic Advisers said the economy was poised to keep growing at a solid 3 percent a year.
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China's economy grew by 9.5 percent in the first three quarters of 2004 compared to the same period last year, China's National Bureau of Statistics announced.
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The economy grew at a 0.7 percent annual pace in the first three months of this year, the weakest in more than four years but slightly better than previously estimated, data showed  on Thursday.
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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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Commerce said the value of imports, which subtracts from GDP, grew at a 4.6 percent rate in the third quarter instead of 6.0 percent it estimated a month earlier.