Thursday, March 29, 2024
By Steven L. Taylor

Via the AP: Economy Grows at 2.5 Percent Pace in 4Q

The economy grew at a 2.5 percent pace in the final quarter of last year, healthier than previously thought but still largely caught up in a spell of sluggishness.

The new reading on gross domestic product, released by the Commerce Department on Thursday, was an improvement from the prior estimate of a 2.2 percent growth rate for the October-to-December period. However, it marked the third quarter in a row where the economy’s growth clocked in at a lethargic 2 percent or better, reflecting the drag of the crumbling housing market on overall business growth.

Many economists expect the GDP will remain mediocre, hovering at around the 2 percent pace in the current January-to-March quarter.

A little increase is better than no increase.

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