WASHINGTON - The economy rocketed ahead at a 5.9 percent pace at the end of 2009, stronger than first estimated. But the growth spurt isn't expected to carry over into this year.
The Commerce Department's new reading was better than its initial estimate of 5.7 percent growth. Economists had predicted the updated reading would stay the same.
Still, the upgrade didn't change the expectation of slower economic activity in the current quarter.
Most of the fourth quarter's growth came from a burst of manufacturing but not because consumer demand was especially strong. In fact, consumer spending weakened.
Monday
October 7th, 2024
7:26PM
