Post by CMF Newsman on Jan 27, 2012 8:15:48 GMT -5
A weak year for the economy likely ended on a hopeful note.
The economy likely grew at annual rate of 3 percent in the October-December quarter, according to a survey by FactSet. The Commerce Department will release the actual figure Friday.
The gain would represent modest improvement from this summer, when the economy grew just 1.8 percent. However, even with the strong finish, economists believe the economy expanded just 1.7 percent for the whole year - roughly half the growth in 2010.
And growth is expected to slow in the first three months of this year. A key reason is wages have failed to keep pace with inflation. That will likely force many consumers to pull back on spending after splurging over the holiday
www.wrcbtv.com/story/16609664/economy-gains-as-businesses-spend-more-fire-less
The economy likely grew at annual rate of 3 percent in the October-December quarter, according to a survey by FactSet. The Commerce Department will release the actual figure Friday.
The gain would represent modest improvement from this summer, when the economy grew just 1.8 percent. However, even with the strong finish, economists believe the economy expanded just 1.7 percent for the whole year - roughly half the growth in 2010.
And growth is expected to slow in the first three months of this year. A key reason is wages have failed to keep pace with inflation. That will likely force many consumers to pull back on spending after splurging over the holiday
www.wrcbtv.com/story/16609664/economy-gains-as-businesses-spend-more-fire-less