May 25, 2006
Up up up up!
- The U.S. economy shot forward at an upwardly revised 5.3 percent annual rate in the first quarter, the fastest growth in 2-1/2 years, as companies built up inventories and exports strengthened, a Commerce Department report on Thursday showed.
First-quarter growth in gross domestic product was more than triple the 1.7 percent annual rate recorded in last year's fourth quarter, though still slightly below Wall Street economists' forecasts for a 5.7 percent pace.
Prices remained in check, with the core personal consumption expenditures price index that the Federal Reserve favors rising at a 2 percent rate compared with 2.4 percent in the fourth quarter.
Incredibly there aren't very many "buts" in the article. Economics and Markets Posted by AlexC at May 25, 2006 11:15 AM