Christian Retailing

NEWSLETTERS Current Issue U.S. economy grows in fourth-quarter 2013
U.S. economy grows in fourth-quarter 2013 PDF Print E-mail
Written by Christine D. Johnson   
Monday, 03 February 2014 01:14 PM EST

DSC_5387-webThe U.S. economy grew at a solid 3.2% annual rate in the October-December quarter, the Commerce Department said Thursday. Consumer spending was the strongest it has been since the fourth quarter of 2010.

“Today’s advance estimate of real GDP shows that our economy continues to recover from the Great Recession," said U.S. Secretary of Commerce Penny Pritzker on Thursday. “While a lot of work remains to help American businesses grow, create jobs and increase wages for our workers, we have also made progress. Thanks to the resilience, grit and hard work of the American people and our businesses, more than 2 million jobs were created last year. Through our ‘Open for Business Agenda,’ the Department of Commerce will keep up efforts to drive advanced manufacturing, support innovation, increase trade and investment, and help our workers with the skills and training needed to succeed in a competitive global economy. We are working every day at the Commerce Department to create growth and build real and lasting economic security for all Americans.”

The increase followed a 4.1% growth rate in the July-September quarter. For 2013 as a whole, the economy grew only 1.9%, which was weaker than the 2.8% increase in 2012, according to the Commerce Department. Higher taxes and federal spending cuts contributed to the economy’s weakness.

Healthy consumer spending reflected gains in purchases of durable and nondurable goods as well as services.

 

In this current issue:

Dr. Dobson’s ‘Family Legacy’ simulcast sees big turnout

News image

Hundreds of thousands of people worldwide saw the inaugural film...

READ MORE

‘Same Kind of Different as Me’ begins filming

News image

Paramount Pictures has started production on the true story told...

READ MORE

AAP: Religion publishers’ sales rise in July

News image

The Association of American Publishers (AAP) StatShot report issued Tuesday...

READ MORE

Family Christian Stores plans World Vision celebration

News image

Family Christian Stores is inviting customers to visit one of...

READ MORE

Matthew West song celebrates Royals, helps fan

News image

When the Kansas City Royals baseball team became 2014's American...

READ MORE

Legacy Press Bible wins Moonbeam book award

News image

The 50 Word Bible by Dan Miley (Legacy Press) has...

READ MORE

Barbour author Annie Tipton receives honor

News image

Barbour Publishing’s children author Annie Tipton has received a Milligan...

READ MORE

YouVersion app adds new MEV translation

News image

Passio, an imprint of Charisma House Book Group, publisher of...

READ MORE

Group Publishing reverses sell-direct decision

News image

Group Publishing announced a decision to continue to sell its...

READ MORE

Simon & Schuster inks deal with Amazon

News image

Simon & Schuster and Amazon have reached a multi-year agreement...

READ MORE

ECPA announces Top Shelf Awards

News image

The art and science of book design was celebrated Tuesday,...

READ MORE

Nazarene Publishing House set to close

News image

Nazarene Publishing House (NPH) and Beacon Hill Press of Kansas...

READ MORE
100%
-
+
0
Show options

a