Arab Today, arab today us 4th quarter growth faster than thought 04
Last Updated : GMT 00:18:03
Arab Today, arab today
Arab Today, arab today

US 4th quarter growth faster than thought: 0.4%

Arab Today, arab today

Arab Today, arab today US 4th quarter growth faster than thought: 0.4%

Washington - AFP

The US economy grew more strongly than initially thought in the fourth quarter last year but was still moving at a sluggish 0.4 percent annual pace, the Department of Commerce said Thursday. That was an improvement over the previous estimate of almost no growth -- just 0.1 percent. But overall it was not much change for a quarter in which growth was slowed in part by the massive hurricane at the end of October which shut down much of the economy in the heavily populated northeast for more than a week. The new data showed exports and business investment in structures and equipment both higher than previously expected. But the revised data showed personal spending was not as strong as earlier estimates. However, the department added, growth was still sluggish and \"the revision to GDP has not changed the general picture of the economy.\" The 0.4 percent fourth quarter pace came in after a solid third quarter expansion rate of 3.4 percent. Overall in 2012, gross economic product expanded 2.2 percent, a modest pace that left policy-makers still frustrated at the slow growth in jobs and the substantial government budget deficit. Economists believe the economy picked up in the first quarter of this year ending Sunday, with estimates close to the average for 2012 despite the onset of higher taxes from January 1 and the federal budget-crunching \"sequester\" spending cuts that were launched from March 1. BMO Capital Markets economist Jennifer Lee called the revised fourth quarter rate \"still disappointing\" but said the investment bank was sticking by its forecast of growth holding 2.2 percent for 2013. Nigel Gault, the chief US economist at IHS Global Insight, said the revision did not change the general picture of the economy in the second half of last year: that the surge in defense spending and inventory growth in the third quarter went into reverse in the fourth. For the current quarter, he said, growth will be more like the third quarter of 2012 as businesses are expanding their inventories again, \"it seems on optimism about growth prospects.\" While defense spending has slowed in advance of and since the sequester cuts, consumer spending has also accelerated and housing investment continues to rise, Gault said. Overall, he said, the first quarter growth rate will probably hit 3 percent. \"But it will slow again in the middle of the year as the sequester bites.\" The revision, combined with improved data on retails sales in Germany, supported fresh gains on US stock markets, with the S&P 500 rising 0.3 percent to surge past its all-time closing high set in October 2007.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us 4th quarter growth faster than thought 04 Arab Today, arab today us 4th quarter growth faster than thought 04

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us 4th quarter growth faster than thought 04 Arab Today, arab today us 4th quarter growth faster than thought 04

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 'Final phase' of battle for Raqa

GMT 03:47 2017 Monday ,16 October

'Final phase' of battle for Raqa
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today Conservation cutbacks put Brazil's

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:20 2017 Thursday ,12 October

Chad extends key conservation area

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday