Commerce Department
Financial sector exceeds pre-recession share of GDPPosted by RJ and Makay on Dec 12, 2011 |
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Finance and insurance firms accounted for 8.4% of total U.S. gross domestic product (GDP) last year, according to the Commerce Department. The percentage, which eclipses the 8.3% peak hit in 2006, shows that the size of the sector has now exceeded its pre-recession level. In 1950, the financial sector represented just 2.8% of GDP.
Economy grows at 2.5%, easing fears of double-dip recessionPosted by RJ and Makay on Oct 27, 2011 |
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The U.S. economy grew at an annual rate of 2.5% in the three months ending September 30, alleviating fears that the nation would fall into another recession, the government reported. Setting aside worries about the economy, consumers and businesses stepped up spending to boost gross domestic product (GDP) growth to its fastest pace in a year.
U.S. consumers tightening belts in stagnant economyPosted by RJ and Makay on Oct 04, 2011 |
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U.S. consumer spending slowed in August as incomes decreased for the first time in almost two years, the Commerce Department reported last week. Purchases in August rose 0.2% after a 0.7% increase in July, while income decreased 0.1%. Take-home pay, adjusted for prices, fell 0.3%, the third decline in the past five months.
Ray Kroc (American pioneer of the fast-food industry, Founder of McDonald's. 1902-1984)
