Bloomberg: U.S. Economy Grew at 5.7% Pace, Most in Six Years
Posted by David Rhoads on Fri, Jan 29, 2010 @ 05:42 PM
The economy in the U.S. expanded at the fastest pace in six years as factories cranked up assemble lines and companies increased investment in equipment and software, Bloomberg reports.
The 5.7% increase in GDP, which exceeded the median forecast of economists polled by Bloomberg News, marked the best performance since the third quarter of 2003, figures from the Commerce Department showed today.
"The economy is still healing and improving," said John Silva, chief economist at Well Fargo Securities, who projected a 5.6% gain in GDP. "I think this is a sustainable recovery."
Click here to read this story in its entirety at Bloomberg.com.