US Economy Grew At Fastest Pace in 4 Years

[babylonsister]

Economy in U.S. Probably Accelerated as Manufacturing Rebounded
January 29, 2010, 07:54 AM EST

By Timothy R. Homan

Jan. 29 (Bloomberg) -- The U.S. economy probably grew in the closing months of 2009 at the fastest pace in almost four years as factories cranked up assembly lines, economists said ahead of a government report today.

Manufacturers such as Intel Corp. may keep leading the recovery as increasing sales prompt companies to restock inventories. A slowdown in consumer spending is a reminder that 10 percent unemployment is causing Americans to hold back, one reason why the Federal Reserve is keeping interest rates low and the Obama administration is proposing new plans to create jobs.

“We ended 2009 on a strong note, adding to evidence that the U.S. economy is recovering,” said Stuart Hoffman, chief economist at PNC Financial Services Group Inc. in Pittsburgh. “This quarter isn’t starting out as rapidly, as best we can tell, but we’re not going to relapse into recession.”

The Commerce Department’s report on gross domestic product is due at 8:30 a.m. in Washington. The economy grew at 2.2 percent pace in the third quarter of last year, the first gain in more than a year. It shrank 3.8 percent in the 12 months to June, marking the worst recession since the 1930s.

more...

http://www.businessweek.com/news/2010-01-29/economy-in-u-s-probably-accelerated-as-manufacturing-rebounded.html

[Coyote_Bandit]

1. Wall Streret Measures

don't necessarily reflect main street reality.

Simple fact is that we need to create MILLIONS of jobs. We're not doing that. And unemployed folks don't have the luxury of waiting of long-term economic growth and restructuring to create those jobs. They need them now.

[Robb]

2. Indeed.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4247799

[babylonsister]

8. He's working on it...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x159986

[Coyote_Bandit]

11. He should be but

"working on it" doesn't buy food or clothing or shelter or healthcare or the tiniest of "luxuries" to give some pleasure in life. Job creation does. Hopefully that will be job creation that pays a living wage and enables the worker to have meaningful access to healthcare.

But I ain't holding my breath. We live in a nation that values wealth creation and consumption over real productivity that offers the potential for greater long term stability and economic security. Nothing to indicate that either the public or the policymakers and politicians have the brains (or the courage) to try and change that.

If the healthcare fiasco has shown anything it is that the President is a corporate lackey with deep corporate loyalties. In many ways financial stimulus and bailout efforts mirrored those loyalties. The money went to big banks and big corporations and big projects hiring established businesses. There was remarkably little investment to stimulate the the creation and growth of small and new business.

Meaningful healthcare reform is my line in the sand. Job creation and the economy is my second most important issue. Color me unimpressed with efforts to date on these issues. My personal circumstances are such that I do not have the luxury of waiting for an extended period of time for these issues to be worked out.

Let me be clear - I hold the slimy fuckers in Congress just as responsible for these failures and misplaced loyalties as I do the President. They are mutually complacent in their failure.

[ProgressOnTheMove]

3. dupe

[ProgressOnTheMove]

4. another dupe

[ProgressOnTheMove]

5. And another duplicate.

[ProgressOnTheMove]

6. Pres. Obama ultimately knows what he's doing, just the wrecking crew broke it to itty bitty pieces.

[Robb]

7. You can say that again.

;)

[ProgressOnTheMove]

9. +1

[babylonsister]

10. UPDATE: Economy soars 5.7 percent in Q4, fastest in 6 years

h/t DUer Bluebear

Economy soars 5.7 percent in Q4, fastest in 6 years
WASHINGTON
Fri Jan 29, 2010 8:45am EST


WASHINGTON (Reuters) - The economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest pace in more than six years, as businesses reduced inventories less aggressively, the Commerce Department said on Friday.

The first estimate put fourth-quarter gross domestic product growth at its fastest pace since the third quarter of 2003. The economy expanded at a 2.2 percent annual rate in the third quarter.

Analysts polled by Reuters had forecast GDP, which measures total goods and services output within U.S. borders, growing at a 4.6 percent rate in October-December period.

Growth was boosted a sharp slowdown in the pace of inventory liquidation, a factor that could mask the strength of the economic recovery from the longest and deepest downturn since the Great Depression.

But even stripping out inventories, the economy expanded at an annual rate of 2.2 percent, accelerating from the 1.5 percent increase in the third quarter, reflecting relatively strong performance from other segments of the economy.

more...

http://www.reuters.com/article/idUSN1416882220100129