Tags: US | Economy

Recovery Not as Strong as Previously Thought

Tuesday, 22 Dec 2009 08:41 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

The economy grew at a 2.2 percent pace in the third quarter, as the recovery got off to a weaker start than previously thought.

The Commerce Department's new reading for the July-to-September quarter was slower than the 2.8 percent growth rate estimated a month ago. Economists were predicting that figure wouldn't change.

The main factors behind the downgrade: consumers didn't spend as much, commercial construction was weaker, business investment in equipment and software was a bit softer and companies cut back more on inventories.

Special: Get Sarah Palin’s New Book – Incredible FREE Offer -- Click Here Now.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Chicago Mayor's Teenage Son Mugged near Home

Saturday, 20 Dec 2014 22:32 PM

A spokeswoman for Chicago Mayor Rahm Emanuel says the mayor's 17-year-old son was mugged near the family's home.Spokeswo . . .

Protesters Shut Down Part of Mall of America in Minnesota

Saturday, 20 Dec 2014 22:25 PM

More than 1,500 protesters against police violence shut down part of the Mall of America in Minnesota on Saturday, resul . . .

Protesters: 'It's Not the Time' for More Cuba Ties

Saturday, 20 Dec 2014 19:44 PM

Cuban opposition leaders from the island joined Cuban American politicians and activists on Saturday, pledging to oppose . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved