Economy Surged Upward in Final Quarter of 2009

2 years ago

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Washington Reporter

The U.S. economy grew sharply at the end of 2009, posting its best quarterly numbers in six years, the Washington Post reports. The country's gross domestic product grew 5.7 percent, more than a percentage point beyond what forecasters expected, providing the strongest evidence yet that the recession ended last year.

The GDP's growth got a significant boost from a steep drop in the pace that businesses were cutting back their inventories, however, a factor that is unlikely to provide a similar lift in coming months. That could result in lower quarterly GDP numbers throughout 2010, which will undercut growth in other sectors.

Consumers increased their spending at a 2 percent annual rate in the final quarter, adding a 1.4 percentage points to the GDP.

Filed Under: Economy

Tagged: daily guidance, DailyGuidance, economic growth, economic recovery, EconomicGrowth, EconomicRecovery, economy, GDP, recovery

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