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Article: Economy, lifted by consumer spending, grew at 1.4 percent rate in fourth quarter
- Article from:
- AP Worldstream
- Article date:
- February 28, 2002
- Author:
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Dateline: WASHINGTON
The U.S. economy, propelled by the biggest surge in consumer spending
on big-ticket goods in 15 years, grew at an annual rate of 1.4 percent
in the final quarter of 2001, the government reported Thursday.
The bigger-than-expected increase in the gross domestic product, the
broadest measure of the economy's health, could mean that economists
will date the end of the recession around the end of last year or
the beginning of this year.
"I think the reality is that we just finished the mildest recession
that we've ever had, but we may have something of a mild recovery
as well," said Carl Tannenbaum, chief economist at LaSalle Bank/ABN
AMRO.