RSSEconomic growth soared by 5.7%
From: The Washington Times | January 29, 2010
The economy grew at a breath-taking 5.7 percent pace in the final quarter of last year as it zoomed out of recession, the fastest growth in more than six years, the Commerce Department reported Friday morning. The gains in output were due overwhelmingly to a one-time event -- a slowdown in the massive liquidation of overstocked goods by businesses that occurred through most of the year, which accounted for 3.39 percent or nearly two-thirds of the growth registered during the quarter, the department said. The surge in growth offset some of the deep decline in the economy in the first ...
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