Posted on apmyway today:
Economy Picks Up Pace in First Quarter
May 27, 10:57 AM (ET)
By JEANNINE AVERSA
WASHINGTON (AP) - The economy grew at a 4.4 percent annual rate in the first quarter of this year, slightly faster than previously thought and fresh evidence that the recovery possessed good momentum as it headed into the current quarter.
The increase in gross domestic product from January through March reported by the Commerce Department on Thursday marked an improvement from both the 4.2 percent pace first estimated for the quarter a month ago and the 4.1 percent growth rate registered in the final quarter of 2003.
The GDP measures the value of all goods and services produced within the United States. While the latest reading was just shy of the 4.5 percent pace that some analysts were forecasting, it nevertheless represented a solid performance.
Separately, the Labor Department reported that new applications for unemployment benefits dropped last week by a seasonally adjusted 3,000 to 344,000, another hopeful sign for a labor market recovery
It must really make the Democrats mad that George Bush’s predictions are coming true. He’s stupid like a fox.
Good luck in November,