Sunday, February 28, 2010

US ECONOMY IN BOOM!!!! Maybe not.

The US economy grew at an annualised rate of 5.9% in the last three months of 2009, revised official figures have shown.

The rate is higher than the first estimate of 5.7%.

The figures confirm the world's largest economy is emerging rapidly from recession.

According to economists, the rise was down to an increase in manufacturing output rather than stronger consumer spending.

In fact, growth in consumer spending was revised down from 2% to 1.7% in the quarter.

Manufacturing rose to meet the demand from retailers and businesses who had allowed stock levels to fall.

Business spending on equipment and software, for example, saw an 18.2% rise, while exports of US goods rose by 22.4% - the fastest pace in 13 years.

BBC News - US economy sees upward revision

Maybe, maybe not.  This could be a hit the bottom bounce, or the US could be headed towards some good economic times.  After the last 10 years a change in direction could probably do nothing but good.

No comments: