NewsMine — economy — united-states — 2005 — 2005-jan-mar — Viewing Item

Economy grows better than expected Original Source Link: (May no longer be active)    http://apnews.myway.com/article/20050225/D88FIJC00.html http://apnews.myway.com/article/20050225/D88FIJC00.html Economy Grows Better Than Expected Feb 25, 8:35 AM (ET) By JEANNINE AVERSA WASHINGTON (AP) - The economy grew at a solid 3.8 percent annual rate in the final quarter of 2004 - stronger than previously estimated- and an encouraging sign that the business expansion was firmly entrenched at the start of the new year. The new reading on gross domestic product, released by the Commerce Department Friday, was better than the government's initial calculation made a month ago. That estimate showed the economy growing at a 3.1 percent pace. The improvement reflected more robust spending by businesses on capital equipment and to build up inventories of goods. The trade deficit also was less of a drag on fourth-quarter growth than initially thought. GDP, the broadest barometer of the country's economic health, measures the value of all goods and services produced within the United States. The new fourth-quarter GDP figure also was better than the 3.5 percent growth rate that economists had forecast in advance of Friday's release by the Bureau of Labor Statistics. Although economic growth in the final quarter of last year was a bit slower than the 4 percent pace measured in the third quarter, the performance was still solid. For all of 2004, the economy expanded by 4.4 percent, the best showing in five years. This annual estimate was the same as first reported last month.

2004 trade deficit hits all time high { February 10 2005 } Big earnings dont help markets Bush plans sharp cuts in HUD community efforts { January 14 2005 } Bush wants mexicans to do americans low pay jobs { March 23 2005 } California economic dependent on realestate boom { March 15 2005 } Companies are adjusting their prices for costs { March 25 2005 } Consumer confidence falls in march 2005 Dollar drops as korea backs away Dollar recoups losses on greenspan speech Dollar slides to two month low against euro Economy grows better than expected Fed considers rate hikes on inflation fears Fed raises rate a quarter early { February 2 2005 } January market drop worst since 1982 Jobless claims { January 2005 } [jpg] Stocks fall as fed discloses interest rate fears Stocks lower on trade deficit worries { March 11 2005 } Trade deficit rises risk to dollar { January 13 2005 } Treasuries fall as fed raises rates over inflation US dollar falls against euro US dollar gains on euro Files Listed: 21

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