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:

Moody invites readers to trade in ‘Fifty Shades’ copies

News image

What does a Christian do with Fifty Shades of Grey?...

READ MORE

Enter soon for Christian Retailing’s Best Early Bird discount

News image

Christian Retailing is now accepting nominations for the 2015 Christian...

READ MORE

Latest album gives Casting Crowns fifth RIAA Platinum status

News image

Reunion/Beach Street Records artist Casting Crowns added another Recording Industry...

READ MORE

ECPA president earns distinguished credential

News image

Mark Kuyper, president/CEO of the Evangelical Christian Publishers Association (ECPA),...

READ MORE

K-Love announces 2015 Fan Awards nominees

News image

For KING AND COUNTRY and the Newsboys topped the list...

READ MORE

NRF survey: Valentine’s spending to reach record heights

News image

Cupid has some tricks up his sleeve this year with...

READ MORE

Rosenberg hits best-seller list again with ‘Third Target’

News image

Author Joel C. Rosenberg has done it again. His newest...

READ MORE

Biblica and Zondervan celebrate 50 years of the NIV

News image

January 2015 marks the beginning of a yearlong campaign to...

READ MORE

RBC Ministries rebrands to become Our Daily Bread

News image

Worldwide, Our Daily Bread is recognized as a household phrase....

READ MORE

Rainer title lauded with 2014 award

News image

B&H Publishing Group has announced that Autopsy of a Deceased...

READ MORE

2015 Absolutely Gospel Music Award nominees announced

News image

Joseph Habedank and hit songwriter Kenna West each garnered eight...

READ MORE

Carpentree awarded licensing for 'Old Fashioned'

News image

Carpentree, Inc. is releasing four new canvases that support the...

READ MORE
100%
-
+
0
Show options

a