Economic Data: Even Better Than Expected...

This will surely miss the headlines (per a release from the Commerce Dept.):

The economy grew at a solid 3.8 percent annual rate in the final quarter of 2004 - stronger than previously estimated- and an encouraging sign that the business expansion was firmly entrenched at the start of the new year.

The new reading on gross domestic product, released by the Commerce Department Friday, was better than the government's initial calculation made a month ago. That estimate showed the economy growing at a 3.1 percent pace.

So, the Bush recovery continues to pump along, despite having inherited a recession, the attacks of 9/11 and being fully engaged in the war on terror.

For all of 2004, the economy expanded by 4.4 percent, the best showing in five years. This annual estimate was the same as first reported last month.

I swear if Kerry were President right now, he'd be puffing up his chest and claiming credit...and I'd be royally pissed.

Posted by: Gary at 02:59 PM | No Comments | Add Comment
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