U.S. third-quarter GDP growth revised to 5.0%, highest in 11 years
Source: Marketwatch
WASHINGTON (MarketWatch) - The U.S. economy grew at a 5.0% annual pace in the third quarter, matching the best performance since the third quarter of 2003. The increase in real gross domestic product was revised up from 3.9%, mainly because of consumer spending and business investment, the Commerce Department said Tuesday. Economists polled by MarketWatch had predicted GDP would be revised up to a seasonally adjusted 4.4%. Consumer spending, the main source of economic activity, was revised up to 3.2% from 2.2%. Spending on business fixed investment was revised up to 8.9% from 7.1%, while spending on equipment was raised to 11.0% from 10.7%. The rise in exports was also raised to % from 4.9%. The gain in business inventories was revised to $82.2 billion from $79.1 billion, a high level that could induce companies to scale back a little in the fourth quarter and perhaps impinge on growth. Inflation as measured by the PCE index was unchanged at a 1.5% annual rate.
Read more: http://www.marketwatch.com/story/us-third-quarter-gdp-growth-revised-to-50-highest-in-11-years-2014-12-23?link=MW_latest_news
Botany
(70,614 posts)"U.S. third-quarter GDP growth revised to 5.0%, highest in 11 years"
BumRushDaShow
(129,662 posts)Fred Sanders
(23,946 posts)The corporate mass media is a massive part of all problems plaguing America.
It is funny how quick "the Ebola panic" got dropped the minute the election was over ....
if the truth be told President Obama was working on ebola since late in the spring of
2014 but the Republicans and certain piece of shit democrats worked on blocking his requests
for $$$ and the person the President had picked to be surgeon general but all the tinme in the
fall of 2014 you heard the media pusing ebola 24/7 and the GOP pushing "stop ebola & secure
the borders" crap.
Thav
(946 posts)That the socialist monarchist totalitarian policies of Obama are continuing to wreck the economy!
world wide wally
(21,757 posts)(sarcasm, in case you're touchy)