AP Economics Writer
WASHINGTON (AP) — The economy logged a solid 3.8 percent growth rate in the first quarter of 2005, a performance that was better than previously thought and a fresh sign the expansion is on firm footing.
The new reading on gross domestic product, released by the Commerce Department on Wednesday, marked an improvement from the 3.5 percent annual rate estimated for the quarter just a month ago and matched the showing registered in the final quarter of 2004.
GDP, the broadest gauge of the economy’s health, measures the value of all goods and services produced within the United States.
Stronger spending on housing projects, more investment by business in equipment and software, and a trade deficit that was less of a drag on economic growth all played a role in the higher first quarter GDP estimate.
The first-quarter’s showing was slightly better than the 3.7 percent growth rate that economists were forecasting before the report was released.
“It was a solid quarter, particularly in the face of high and rising energy prices,” said Mark Zandi, chief analyst at Economy.com. “It illustrates the resilience of the economy and the durability of the current economic expansion.”
whose gonna be the first lefty to come piss on the parade?
tick tock, tick tock
What about the demise of GM and Ford? What about the 1 million jobless that will result from that? What about the skyrocketing consumer prices? Wages are not increasing but prices are. Soon the thrust of the jobless juggernaut will make its presence felt.
..and the winner is…
TREBLINKA!!!!!
(crowd goes wild)
She did, however, fail to win the boobie prize by not using the word “outsourcing” 35 times in poo-pooing the good economic news.
2-I am sure that with the billions in the bank account of the UAW, they will be fine. Oh that’s right, the union does nothing for you once you lose your job.
I can’t seem to have a lot of sympathy for them.
3-Figures it would be a dg type to do it:wink:
The irony here is that the UAW is DIRECTLY responisible for the loss of those 1 million jobs!!!!!
hahahahaha
starve, that’s what I say.
6- I loved the statement from the president of the union representing GM. “I will not re-negotiate”- I say good, nothing further to talk about, and start outsourcing even more.
sweet!
we should treat unions like terrorists.. “our policy is not to negotiate with terrori..oops, I mean unions”
“And I further declare and make known, that such persons of suitable condition, will be received into the armed service of the United States to garrison forts, positions, stations, and other places, and to man vessels of all sorts in said service.
And upon this act, sincerely believed to be an act of justice, warranted by the Constitution, upon military necessity, I invoke the considerate judgment of mankind, and the gracious favor of Almighty God.”
Abraham Lincoln
key phrase “upon military necessity”
9-So are you saying that we should put all unemployed people in the military:?:
11- Wow Fred, where do you live?
5: Peejz, the mere mention of that person gave me a sense of nostalgia.
I lost a pair of worn out Merrells because of him — had to sacrifice yanking my foot out each time (size 14
).
But I stimulated the economy this quarter and bought two more pair through shoes dot com.