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WASHINGTON (AP) -- The economy gained strength at the end of last year as Americans spent at the fastest pace in four years and U.S. companies sold more overseas.
The growth is boosting hopes for a stronger 2011. But it remains too weak to ease high unemployment.
The Commerce Department reported Friday that growth rose by an annual rate of 3.2 percent in the October-December quarter. That's better than the 2.6 percent growth in the previous quarter. And it was the best quarterly showing since the start of last year.
The economy has now consistently picked up speed since hitting a rough path in the spring.
For all of last year, the economy grew 2.9 percent, the most since 2005. It was an improvement from 2009 when the economy suffered its worst decline in more than 60 years." Economy gains, but not enough to ease jobs crisis - Yahoo! Finance
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By Jeff Harding, on January 28th, 2011
"That aside, what can we take away from GDP?
1. Most of the increase in GDP is the result of QE1 and QE2 monetary stimulus. Ultimately the Fed will “print” $2.2 trillion and pump it into the economy. That has one initial destination: Wall Street.
2. Most of the increase in the stock markets is a result of QE. The increase in company bottom lines is a result of efficiencies, but exporters have had the best returns.
3. A declining dollar has lifted exports and inhibited imports. The dollar has been on a slide since June 2010 which makes US exports cheaper and thus more attractive to foreign customers. The cause of this is QE."
