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.

 
Read the Vacation Bible School 2014 guide

In this current issue:

Long’s Christian announces closing of Greater Orlando store

News image

Store owner Rodger Long recently announced the forthcoming closing of...

READ MORE

Study: Bulk of retail purchases happen in-store

News image

Most U.S. retail sales—a whopping 92%—still happen offline, according to...

READ MORE

July retail sales show consumers remain cautious in spending

News image

U.S. retail and food-services sales for July totaled $439.8 billion,...

READ MORE

The Byrds’ classic tune recut for ‘The Song’ movie soundtrack

News image

The biblical text that inspired The Byrds’ No. 1 hit...

READ MORE

LifeWay considers selling Nashville property

News image

LifeWay Christian Resources is considering selling all or part of...

READ MORE

Lecrae, Hillsong United among top GMA Dove Awards nominees

News image

The Gospel Music Association (GMA) announced the nominees for the...

READ MORE

Gospel Light names new CEO

News image

Gospel Light’s board of directors has named Dave Thornton as...

READ MORE

‘God’s Not Dead’ tops home-video sales charts

News image

Pure Flix film God’s Not Dead debuts at No. 1...

READ MORE

Christian retail groups aim to drive traffic with magazine program

News image

Covenant Group, Mardel Christian & Education and The Parable Group...

READ MORE

Fiction writers’ group partners with Family Christian Stores

News image

American Christian Fiction Writers (ACFW) is partnering with Family Christian...

READ MORE

Sales of Stormie Omartian Spanish books soar

News image

Stormie Omartian’s Spanish-language books continue to soar to the top...

READ MORE

Amazon pledges to continue fight for ‘reasonable e-book prices’

News image

Amazon tells its side of the story in its ongoing...

READ MORE
100%
-
+
0
Show options

a