us-news

US GDP grows 4.1 % in third quarter

Washington, Dec. 21 : The US gross domestic product reportedly grew at a 4.1 percent rate during the third quarter, despite the government shutdown.


According to a new data released by the Commerce Department, the GDP rate has been the best showing since 1992.

According to the Washington Post, the nation's economic output in the Q3 has been significantly stronger than the initial estimate of a 2.8 percent annual growth rate.

The data also pointed to improvements in consumer spending and exports that lifted many economists' outlook for the final months of the year.

The statistics suggest that the federal government shutdown did not stop businesses from hiring or prevent consumers from pulling out their wallets.

However, Boston Fed President Eric S. Rosengren has said that he would like more evidence that the economy is on track to expand 3 percent next year, the report added.

--ANI (Posted on 21-12-2013)

us-news headlines

Hindu mantras open California's Reedley City Council

Former Houston police officer indicted

Sikh man barred from jury duty in California

US special envoy lands in Pakistan to discuss Afghanistan

Hillary Clinton wants 'older women' in politics

Indians, Asians fast becoming politically relevant in US: Report

Nearly 5 million elderly go hungry in US: Study

US business mission headed to India in November

Pentagon hails maritime guidelines for Pacific region

Electric toothbrush prompts bomb scare at US airport

US 'disappointed' by Palestinian reconciliation deal

US state's new law allows guns in bars, churches

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top