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Article: Economy Cools to 4 Percent Growth after Year-End Surge; Job Growth Still Flat.
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- January 31, 2004
CopyrightCOPYRIGHT 2004 The Washington Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Patrice Hill
Jan. 31--Economic growth fell by half to a 4 percent annual rate at the end of last year as consumers took a respite after pushing spending on cars and other items to a 17-year high during the summer, the Commerce Department reported yesterday.
Despite worries prompted by the sharp deceleration of growth on Wall Street, a more recent economic indicator suggests the consumer pullback was only temporary. Consumer spirits picked up again this month to a three-year high, according to a sentiment index published yesterday by the University of Michigan. It showed growing optimism about the stock market and the economy.
Consumers ...