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Economy's Growth Is Better Than Expected
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Issue
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| Contributor | Scott³ |
| Last Edited | Scott³ Jun 29, 2005 01:53pm |
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| Category | News |
| Media | Website - Yahoo News |
| News Date | Wednesday, June 29, 2005 07:00:00 PM UTC0:0 |
| Description | AP Newswire article on Yahoo.com
An excerpt...
"The economy logged a solid 3.8 percent growth rate in the first quarter of 2005, a performance that was better than previously thought and a fresh sign the expansion is on firm footing.
The new reading on gross domestic product, released by the
Commerce Department on Wednesday, marked an improvement from the 3.5 percent annual rate estimated for the quarter just a month ago and matched the showing registered in the final quarter of 2004.
GDP, the broadest gauge of the economy's health, measures the value of all goods and services produced within the United States.
Stronger spending on housing projects, more investment by business in equipment and software, and a trade deficit that was less of a drag on economic growth all played a role in the higher first quarter GDP estimate.
The first-quarter's showing was slightly better than the 3.7 percent growth rate that economists were forecasting before the report was released." |
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