Economy zooms in 1st quarter
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The economy showed even more pep than initially thought in the first quarter, zipping ahead at a 5.3 percent pace. But a less energetic housing market and high energy prices are now taking out some of the oomph.
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The productivity of American workers rebounded at a rapid clip at the start of this year and wages posted a solid gain as well, the government reported Thursday.
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Strong business investment and higher exports drove the U.S. economy ahead at a robust 4 percent annual rate in the second quarter before turmoil in credit markets struck that is expected to brake growth ahead.
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The U.S. economy grew slightly faster than previously estimated in the first quarter, but still at the weakest pace in more than four years and inflation was higher as well, data on Thursday showed.
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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 a closely watched inflation gauge  unexpectedly accelerated, data showed showed on Thursday.
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Robust consumer spending on cars, furniture and food helped the U.S. 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 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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WASHINGTON -- 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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The economy revved up its engine in the third quarter and advanced at an annual rate of 4 percent -- faster than expected. The reading on gross domestic product, released Wednesday by the Commerce Department
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U.S. economic activity expanded from mid-April through May, with some regions reporting stronger growth, the Federal Reserve said on Wednesday.
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The British economy expanded by 2.9 percent during the first quarter of 2007 on a 12-month comparison, official data showed on Friday.
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Economic activity expanded from mid-April through May, with a number of areas reporting stronger growth, the Federal Reserve said on Wednesday.
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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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Russiaâs economy expanded in the first quarter at the fastest pace in six years as production of building materials increased to keep pace with a construction boom and consumer demand remained strong. Gross domestic product rose at an annual rate of 7.9 percent in the period, compared with 5 percent in the first quarter of 2006, the Federal Statistics Service said. The figure is not seasonally adjusted. Industrial output increased 7.9 percent in the first quarter of the year, compared with 4.1 percent in the period last year, according to the Federal Statistics Service.
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The U.S. economy grew at a stronger pace than expected in the final quarter of 2006 without raising inflation pressures, government data showed on Wednesday, as robust consumer spending more than offset the biggest slump in housing in 15 years.
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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 as businesses sold off inventories but consumer spending remained strong, a Commerce Department report on Thursday showed.
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The U.S. economy grew slightly better than first estimated in the first quarter, but still at the weakest pace in more than four years and inflation grew as well, data on Thursday showed.