The U.S. economy grew at the fastest pace in more than six years during the fourth quarter of 2009, according to a government report Friday.
The nation’s gross domestic product, the broadest measure of economic activity, rose at a 5.7% annual rate in the fourth quarter. That was much stronger than expected and provides another sign that a recovery in the economy is taking hold.
The growth in the fourth quarter was the highest since the third quarter of 2003. The economy rose at 2.2% annual pace in the third quarter of last year.
Much of the improvement was driven by a turnaround in inventories, the supply of goods that businesses produce in anticipation of sales. Businesses slashed inventories in late 2008 and early 2009 due to concerns about worsening economic conditions.
Federal spending on stimulus does not show up on any one line of the GDP report.
(Source: CNN Money)
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4 Responses
Lets wait till we hear the adjusted numbers that will eventually come out. This has happened before yet when the true numbers came out, we were stagnant or down.
Growth is relative to the previous quarter, which was depressed. They should measure GDP based on 2006 or 2007 (pre-recession levels).
By analogy, if the average temperature is January is 30 degrees, and in February it is 33 degrees, the temperature measured in degrees increased 10%, but it is still cold.
#1, keep an open mind and hope what’s best for America comes before what’s best for the ultra-conservative. Even, for the sake of argument, even if we are stagnant or down, dont forget the final days of Bush/Cheney when the world worried we would be out. Stagnant or down is a step up from where we were when the banks and brokerage houses went belly up.
MoshiachNow01,
I know you are trying hard to be happy with each and every “good” report to help your Avoda Zora – Barack Obama. But you need to face the facts that the media is sooooo in love with him that he cant d wrong and they will report falsehoods to make him look good AND THAT IS WORSE FOR THE COUNTRY!
It is a shame that the far left doesnt realize that what is good for the country is when the govt is conservative like about 60% of the country leans. We need LESS govt intervention and not more.