GDP Logs a 3.2% Rise in 4th Quarter

Even though it fell short of economists’ expectations, a 3.2 percent rise in the GDP during the last quarter of 2010 has rekindled hopes that the U.S. economy may be moving toward sustainable recovery. —JCL

The Guardian:

The US economy regained momentum in the fourth quarter of last year, boosted by buoyant exports and the strongest consumer spending in more than four years.

GDP figures released today raised hopes that a sustainable recovery is under way, which will enable businesses to start hiring again.

The world’s largest economy grew at an annualised rate of 3.2% between October and December, according to the US Commerce Department, faster than the third quarter’s 2.6% rate. Economists had expected growth of 3.5%.

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AP / Sang Tan

A visitor walks past Andy Warhol’s painting “200 One Dollar Bills,” on display in London in 2009.