Friday, January 29, 2010
U.S. GDP Affirms Economic Progress
The U.S. GDP had a 5.7% growth rate for the fourth quarter of 2009, reaffirming the idea that the United States is on the road to economic recovery. The 5.7% growth rate is the highest it has been in 6 years. This increase also represents 2 quarters of increase after 4 quarters of decline. Although the growth is positive, most experts believe that it will once again begin to slow down and that the 1st quarter of 2010 will experience only 2.5-3% growth and that the total for 2010 will be around 2.5%. Unfortunately, these numbers are not enough to reduce the U.S. unemployment rate but it is expected to improve over time.