Third-quarter GDP unrevised at 4.9% growth |
| MarketWatch - Dec 20, 2007 |
In one last fond look back, the government said Thursday that the U.S. economy grew at a 4.9% annual pace in the third quarter, the fastest growth in four years.
The 4.9% "final" estimate was unrevised from the previous estimate. Read the full government report.
With forecasts now looking for the economy to slow to 1% growth or less in the fourth quarter, the rapid growth last quarter was something of a last hurrah, based on a burst of inventory building and strong export growth that can't be maintained.
Looking forward, economists expect slower growth in consumer spending, business investment, exports and inventory building. And they expect little or no improvement in a housing market that was the worst in 16 years during the third quarter.
Read Full Article from MarketWatch
- Posted: 2007-12-20 09:22:17
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