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April 28, 2006
U.S. Economy Revs Up In Q1
The U.S. economy picked up the pace during the first quarter of the year, growing by 4.8 percent.
This represented the fastest growth in nearly three years, thanks to both business and consumer spending.
Consumer spending accounts for nearly two-thirds of gross domestic product and provided a significant boost at the beginning of this year.
Fourth-quarter 2005 growth came in at a much more moderate 1.7 percent, due to consumer belt tightening.
Posted by Blacks on April 28, 2006 09:48 AM
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