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GDP grew by 4%; faster than expected
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Contributor | PragCon 3.0 |
Last Edited | PragCon 3.0 Dec 22, 2004 01:25pm |
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Category | News |
Media | Newspaper - St. Paul Pioneer Press |
News Date | Wednesday, December 22, 2004 06:00:00 AM UTC0:0 |
Description | The U.S. economy grew at a 4 percent annual rate from July through September, faster than previously estimated, according to government figures that suggest the expansion may continue at a similar pace entering 2005.
Consumer spending grew at the fastest pace in almost three years, business investment accelerated and inventory accumulation slowed during the quarter. The need to increase stockpiles amid continued strong sales will buoy GDP in the current quarter, economists said.
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