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The economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest in more than six years, as businesses made less-aggressive cuts to inventories and stepped up spending.
The Commerce Department said on Friday its first estimate put fourth-quarter gross domestic product growth at its fastest pace since the third quarter of 2003. The economy expanded at a 2.2 percent annual rate in the third quarter.
- In the last three months of 2009, consumer spending increased at a 2 percent annual rate
- Business investment in the fourth quarter grew for the first time since the second quarter of 2008 as the drag from the troubled commercial real estate was offset by robust spending on equipment and software.
Business investment rose at a 2.9 percent rate after falling 5.9 percent over the previous three-month period.
- Export growth outpaced imports, leaving a trade gap that contributed half a percentage point to GDP growth in the last quarter.
I was hoping for serious commentary, so I don't appreciate you spamming the thread.
Aww...poor baby. Hey if you can't laugh at the failed economy anymore, what's this world come to?
Considering the amount of "Obama's fault" and "Bush's fault" that flies repeatedly among many on CD, I'll take that with a grain of salt as large as my house.
I'll be happy when there is some positive news about jobs.
WHERE ARE THE JOBS??!!
Jobs are a lagging indicator. Always have been.
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