Economy in U.S. Grew at 5.7% Pace, Most in Six Years

The economy in the U.S. expanded in the fourth quarter at the fastest pace in six years as factories cranked up assembly lines to prevent inventories from plunging.

Manufacturers such as Intel Corp. may keep leading the recovery as increasing sales prompt companies to restock. A slowdown in consumer spending last quarter 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.

“Business are now feeling confident enough to deploy a larger portion of the recent strong corporate earnings rebound into new investment spending,” Brian Bethune, chief financial economist at IHS Global Insight in Lexington, Massachusetts, said before the report. “This is a key development to support a strong, non-inflationary recovery.”

Read Full Article from BusinessWeek

- Posted: 2010-01-29 11:11:14

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