Economy Has Strongest Quarter Since 2010


The U.S. economy saw its strongest quarter since early 2010, growing by 2.8 percent in the 4th quarter of 2011, the Commerce Department announced Friday.

Still, numbers fell slightly below expectations, not quite hitting the 3 percent growth that economists predicted.

Much of the growth was due to consumer spending; while the holidays did fall during the fourth quarter, the government adjusted the numbers to account for seasonal trends.

According to CNN, cuts in state and local government spending hindered further growth, dragging numbers down for the sixth quarter straight.

Unemployment fell from the third quarter to the fourth quarter, down to 8.5 percent in December from 9 percent in September.

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  • by hmm on Jan 27, 2012 at 08:05 AM
    They released today that unemployment applications are on the rise again. Must be that seasonal hiring that Obama said was due to his policies.
  • by Nath Location: Colo Spgs on Jan 27, 2012 at 07:26 AM
    Government spending cannot be counted in the economic growth picture. In order for the government to spend, it has to take from the private sector, thus hindering growth or economic health, not helping it. But the government uses voodoo Keynesian economics to do their book cooking so thay can make things look good when in fact things are not so good.
    • reply
      by Amelio Ration on Jan 27, 2012 at 09:18 AM in reply to Nath
      Don't you wonder why those anonymous hackers waste their time exposing politicians when they could be proving/disproving conspiracy theories? Like the real economy books you mentioned, and who was behind 9/11, what's at Roswell/Area 51, that New World Order thing, or how about all the energy technology it's rumored the oil companies and government are hiding. They need to make themselves useful and start digging up some things we can use.
      • reply
        by Anonymous on Jan 28, 2012 at 03:20 PM in reply to Amelio Ration
        Maybe it's because most conspiracy thoeories turn out to be conspiracies.
  • by Nero on Jan 27, 2012 at 06:31 AM
    Really? Cuts in gov't spending drag the economy down? Can they say that in an election year when there are GOP hopefuls boasting about how much gov't spending they can slash? They must know that people will fall for the empty rhetoric anyway.
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