Sunday, January 29, 2012

U.S. Economy Picks Up Steam: Fourth-Quarter Growth Rate of 2.8% is Fastest in 18 Months, but Doesn't Appear Sustainable

At First Street Journal, "The Economy Grew 2.8% For the 4th quarter, 1.7% Overall in 2011."

And at Chicago Sun-Times, "Economic growth not enough to sharply reduce unemployment."
 WASHINGTON — The economy grew late last year at a pace that in normal times would suggest it’s healthy.

But the 2.8 percent annualized growth rate in the October-December quarter — the fastest pace since the spring of 2010 — isn’t being cheered by most economists or investors. That’s because growth would need to be much stronger to sharply reduce unemployment. And signs in the data point to slower growth ahead.