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Economy Grows At 4.1% Clip -- Thanks, Dubya
On 27 Feb 2004 12:25:20 -0800, (pyjamarama)
wrote:
WASHINGTON (AP) - America's economy, bolstered by brisk business
spending, grew at a healthy 4.1 percent annual rate in the final
quarter of 2003. That was even faster than first thought and offered
new evidence that the nation's economic recovery was firmly rooted
going into the new year.
The latest reading on the gross domestic product - the broadest
measure of the economy's health - was slightly better than the 4
percent pace estimated a month ago for the October-to-December
quarter, the Commerce Department reported Friday. GDP measures the
value of all goods and services produced within the United States.
"The capital spending rebound is in high gear," said economist Ken
Mayland, president of ClearView Economics.
Even though the fourth quarter's growth rate marked a slowdown from
the red-hot 8.2 percent pace of the third quarter - the best in nearly
two decades - it nonetheless represented a solid performance.
The 4.1 percent pace was better than economists were predicting. They
were forecasting growth rate of around 3.8 percent.
On Wall Street, the report helped to lift stocks. The Dow Jones
industrials gained 34 points and the Nasdaq was up 4 points in morning
trading.
Looking ahead, the economic picture seems promising, analysts say.
Economic growth in the current January-to-March quarter is expected to
clock in at a rate of around 4.5 percent or higher, according to some
analysts' projections.
Why weren't you celebrating Clinton during the 90s if 4.1% is such
great shakes?
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