WASHINGTON (Reuters) – The economy grew at its fastest pace in more than six years in the fourth quarter, surprising economists, as businesses curbed their aggressive cut in stocks and stepped up spending.
Man cannot live by GDP aloneThe initial estimate is that fourth quarter GDP grew at a blistering 5.7% annual pace. With the usual caveats–third quarter GDP estimates started high and then were revised down to a much more modest level–that’s…
The U.S. economy probably grew in the closing months of 2009 at the fastest pace in almost four years as factories cranked up assembly lines, economists said ahead of a government report today.
President Barack Obama said Friday that the economy’s 5.7 percent growth rate in the fourth quarter confirmed progress compared to the economic slump a year ago.
If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Financial markets reacted swiftly to the stronger-than-expected growth, with the dollar gaining ground and bond yields rising amid fears of rising inflation in the US economyThe US economy grew at a faster-than-expected 5.7% annualised rate in the fourth quarter, the [...]
President Barack Obama vowed in his State of the Union address on Wednesday to make job creation his top priorityThe US economy is forecast to have gathered steam in the final three months of last year, helped by a gradual revival of the housing market.Wall Street analysts expect growth to have picked up to 4.6% [...]
NEW YORK (Reuters) – New York City Mayor Michael Bloomberg on Thursday proposed a $63.64 billion budget plan for next year, an increase of about $560 million from the current one, saying the economy was not improving enough to avoid layoffs and other h…
US president and Amtrak devotee Joe Biden take jobs pledge to FloridaBarack Obama announced $8bn in grants to upgrade America’s slow and aged passenger rail network today, taking his state of the union promise to build America’s clean energy economy to Florida.Obama was touting his efforts to create jobs by investing in infrastructure and less [...]
Barack Obama’s state of the union speech focused on the economy, where he must make progress to regain momentumBarack Obama opened his first state of the union speech by noting that the United States has seen dark days when “victory was very much in doubt” and “the future was anything but certain”. Early on, the [...]
Declaring “I don’t quit,”‘ an embattled President Barack Obama vowed in his first State of the Union address Wednesday night to make job growth his topmost priority and urged a divided Congress to boost the still-ailing economy with fresh stimulus s…