The Conservative Cave
Current Events => Economics => Topic started by: Ptarmigan on October 29, 2009, 11:14:09 AM
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Economy returns to growth after a year of declines
On 9:51 am EDT, Thursday October 29, 2009
By Lucia Mutikani
Yahoo Finance
WASHINGTON (Reuters) - The U.S. economy grew in the third quarter for the first time in a year, beating market expectations, as consumer spending and new home-building rebounded, signaling the end of the worst recession in 70 years.
The Commerce Department, in its first estimate of third-quarter gross domestic product on Thursday, said the economy grew at a 3.5 percent annual rate, the fastest pace since the third quarter of 2007, after contracting 0.7 percent in the April-June period.
The growth pace in GDP, which measures total goods and services output within U.S. borders, was above market expectations for a 3.3 percent rate. The economy last grew in the second quarter of 2008.
Economy returns to growth after a year of declines (http://finance.yahoo.com/news/Economy-grows-in-Q3-rb-243710096.html?x=0&.v=5)
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As much I want to see the recession end, I don't see it as being over yet. Unemployment is climbing as we speak. Too early to call it an end of the recession.
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how long until Obama's press conference declaring the stimulus a success?
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how long until Obama's press conference declaring the stimulus a success?
Other dems are saying it for him. Funny how the news of the GDP increase is overshadowing the news of the jump in unemployment. We don't have a "jobless recovery", we are having a job LOSS recovery.
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how long until Obama's press conference declaring the stimulus a success?
3...2...1...
Seriously, how much of that "increase" was C-for-C and other accounting tricks? Anyone here NOT seeing a "double-dip" recession?