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Old 02-16-2010, 08:16 PM
 
34,990 posts, read 36,785,252 times
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Jan. 29 (Bloomberg) -- The U.S. economy expanded in the fourth quarter at the fastest pace in six years as factories cranked up assembly lines, indicating the recovery may be strong enough to be weaned from government support.

The dollar rallied as the data signaled the momentum generated by the world’s largest economy last quarter will carry into the new year. Rising investment in equipment and software is boosting sales at companies including Intel Corp. and may help bring the jobless rate down from close to a 26-year high as employers add staff to meet demand.'[/b]

U.S. Economy: Growth Jumps 5.7%, Fastest Pace in Six Years - BusinessWeek

Last edited by CaseyB; 02-17-2010 at 03:17 PM.. Reason: shortened quote
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Old 02-16-2010, 08:19 PM
 
Location: New London County, CT
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I'm sure everyone will agree this is excellent news! It seems as though the stimulus HAS worked and we're getting back on track.

As a small business owner who serves enterprise level companies and federal government agencies, I will be glad to see growth that will help my business grow!

If you aren't happy about this news, I wonder about your patriotism.
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Old 02-16-2010, 08:25 PM
 
1,385 posts, read 2,167,246 times
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I can say that I've started to see the expansion of the economy in my line of work. For the first time in about 18 months, there are more projects than people to fill positions which is great news.
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Old 02-16-2010, 08:28 PM
 
Location: The Republic of Texas
78,140 posts, read 41,191,760 times
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I'm happy. But that number is misleading, when it is all put in context of what cause and effect does.

When you have 3 quarters of growth, then we can seriously talk.
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Old 02-16-2010, 08:42 PM
 
Location: SE Arizona - FINALLY! :D
20,460 posts, read 24,519,690 times
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Quote:
Originally Posted by delusianne View Post
Jan. 29 (Bloomberg) -- The U.S. economy expanded in the fourth quarter at the fastest pace in six years as factories cranked up assembly lines, indicating the recovery may be strong enough to be weaned from government support.

The dollar rallied as the data signaled the momentum generated by the world’s largest economy last quarter will carry into the new year. Rising investment in equipment and software is boosting sales at companies including Intel Corp. and may help bring the jobless rate down from close to a 26-year high as employers add staff to meet demand.

“We are getting on to something that is pretty sustainable,” said Bruce Kasman, chief economist at JPMorgan Chase & Co. in New York, who correctly forecast the gain in GDP. “Both consumers and businesses are beginning to increase spending. To get validation, we need to see a return in hiring, which we think we are going to get over the next few months.”

U.S. Economy: Growth Jumps 5.7%, Fastest Pace in Six Years - BusinessWeek
Yup.
LOTS of good news mentioned in that article. Truly the economy is starting to fire on all cylinders so there's a pretty good chance that when the February job numbers are announced next month there will be job GROWTH rather than job loss.



Ken
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Old 02-16-2010, 08:45 PM
 
Location: SE Arizona - FINALLY! :D
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Quote:
Originally Posted by BentBow View Post
I'm happy. But that number is misleading, when it is all put in context of what cause and effect does.

When you have 3 quarters of growth, then we can seriously talk.
That 3rd quarter of growth will happen THIS quarter and be announced in April.



Ken
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Old 02-16-2010, 08:49 PM
 
Location: Southeast
4,296 posts, read 6,622,716 times
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FYI there are already 3 topics with titles almost exactly the same as this one:

//www.city-data.com/forum/polit...-years-28.html

//www.city-data.com/forum/polit...rew-5-7-a.html

//www.city-data.com/forum/polit...t-quarter.html

In any case, while 5.7% is good news, the advance estimates are always revised down quite a bit. In the 3rd quarter growth was initially pegged at 3.6% only to reach a final value of 2.2%. I suspect that once the rest of the data files in (Feb 29th and March 29th) it will be where most economists predicted, 3.9%-4.2%. Better than being in the negative for sure, but no where near what you would expect for a recovery from the worst recession since the Great Depression.

I trust the BEA to be honest as opposed to any secondary source:

http://bea.gov/newsreleases/national...ewsrelease.htm
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Old 02-16-2010, 08:50 PM
 
3,219 posts, read 6,131,960 times
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IF there's sustained growth and job creation it'll have nothing to do with Obama and or the so-called wasteful $timulus IMO.

Call it US businesses doing their thing on their own.
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Old 02-16-2010, 08:51 PM
 
Location: New London County, CT
8,949 posts, read 11,069,111 times
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Quote:
Originally Posted by njguy View Post
Call it US businesses doing their thing on their own.
After begging the government for and receiving our tax dollars in the form of TARP funds?
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Old 02-16-2010, 08:52 PM
 
Location: somewhere in the woods
16,876 posts, read 14,137,412 times
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I figure the rug will get pulled out from the US economy again this year or next in a double dip recession. it just hasnt happened yet.
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