Thursday, August 28, 2008

U.S. economy grows at fastest pace in a year, up 3.3 percent

Recession Called Off Due To Lack of Interest.
Media, Democratic-Socialist Candidates Hardest Hit.

That fast pace for the the April-June (2nd) quarter exceeded the government's & economists' expectations.

What fueled this growth? U.S. of A. exports.

The biggest factor in the second-quarter's rebound was robust sales of U.S. exports to other countries. The weaker value of the U.S. dollar has bolstered those sales. Exports grew at a 13.2 percent pace in the spring. That was much stronger than the government's initial estimate of a 9.2 percent growth rate, and more than double the 5.1 percent growth rate logged in the first quarter.

Imports, meanwhile, fell at a 7.6 percent annualized pace in the spring, as economic troubles in the U.S. crimped demand for foreign-made goods.

Federal Reserve Chairman Ben Bernanke warned recently that the U.S. economy is still fragile. Unemployment (5.7 percent) continues to creep up along with inflation (4.2 percent) - mostly fueled BY fuel prices.

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