Friday 29 January 2010

US economy puts on shock growth spurt

Daily Mail
"Markets and analysts were caught off-guard today as official data showed the US economy grew by an annualised 5.7 per cent in the fourth quarter.The increase in gross domestic product well outstripped the previous quarter's 2.2 per cent and analysts' expectations of a 4.6 per cent expansion.The data from the Commerce Department confirms that the world's biggest economy is powering away from recession, although US GDP estimates are prone to big revisions. The third quarter estimate had been 3.5 per cent before it was revised down to 2.2 per cent."

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