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:

Destiny Image: 'We made the right decision'

News image

Citing major financial considerations, Nori Media Group CEO Don Nori...

READ MORE

LifeWay signs letter of intent on Nashville property

News image

After analyzing more than a dozen offers to purchase its...

READ MORE

700 Club, Joni to feature lauded HCI authors

News image

HCI Books authors Tonier Cain and Erin Merryn will get...

READ MORE

InterVarsity Press inks Tampa pastor to book deal

News image

Pastor, author and recording artist Tommy “Urban D.” Kyllonen has...

READ MORE

Worthy signs Sandra Hagee Parker for debut book

News image

Worthy Publishing announces it signing of author Sandra Hagee Parker—daughter...

READ MORE

Tuesday marks final day for CR’s Best nominations

News image

Vendors and authors still have only one more day to...

READ MORE

Retailers welcome west coast port contract agreement

News image

International Longshore and Warehouse Union and the Pacific Maritime Association...

READ MORE

Pure Flix appoints new chief operating officer

News image

Pure Flix Entertainment announces the appointment of Steve Fedyski as...

READ MORE

Tyndale to publish companion books for ‘A.D.’

News image

Tyndale House Publishers will partner with New York Times best-selling...

READ MORE

Inpop enjoys prosperous year, prepares for monumental 2015

News image

Inpop Records, a Nashville-based entertainment company, is coming off an...

READ MORE

Publishers flock to Family Christian Stores bankruptcy hearing

News image

This week’s bankruptcy hearing for Family Christian Stores (FCS) has...

READ MORE

Cokesbury announces new children’s curriculum

News image

Based on the award-winning Deep Blue Kids Bible, Cokesbury has...

READ MORE
100%
-
+
0
Show options

a