fourth quarter GDP
U.S. economy picks up in Q4 2011Posted by RJ and Makay on Jan 27, 2012 |
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The U.S. economy grew at an annualized rate of 2.8% in the fourth quarter of 2011, short of economists’ forecasts but at a stronger pace than the 1.8% gain in gross domestic product (GDP) in the third quarter of last year, according to the Commerce Department. A Bloomberg survey of 79 economists had made a mean forecast of a 3% rise in Q4 GDP. For all of 2011, the economy expanded at a rate of 1.7%, down from 3% in 2010.
Economists are a little more optimistic about the U.S. economy heading into 2012. A CNN Money survey of 20 top economists shows that their fear of another recession has subsided in the past three months. Over that period, the estimated probability of slipping into another downturn fell from 30% to 20%. They also believe that fourth-quarter economic growth will be the strongest of 2011.
