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Re: U.S. Economy Unexpectedly Contracted in Fourth Quarter

By: oldCADuser in FFFT | Recommend this post (0)
Thu, 31 Jan 13 3:00 AM | 88 view(s)
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Msg. 49713 of 65535
(This msg. is a reply to 49693 by clo)

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The reports I heard stated that the private sector GREW over 3%, just that public sector spending dropped nearly 7%. So much for cutting the deficit helping the economy, EH?




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The above is a reply to the following message:
U.S. Economy Unexpectedly Contracted in Fourth Quarter
By: clo
in FFFT
Wed, 30 Jan 13 6:19 PM
Msg. 49693 of 65535

U.S. Economy Unexpectedly Contracted in Fourth Quarter

The United States economy contracted unexpectedly in the final quarter of 2012, hurt by weaker exports, a drop in military spending and a slower buildup in inventories.
The Commerce Department said Wednesday that economic output in the quarter fell at an annual rate of 0.1 percent, compared with growth at a 3.1 percent pace in the third quarter.

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http://www.nytimes.com/2013/01/31/business/economy/us-economy-unexpectedly-contracted-in-fourth-quarter.html?emc=na


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