AP: Economy Grows at 1.7 Percent Pace

[Hissyspit]

http://news.yahoo.com/s/ap/20060330/ap_on_bi_go_ec_fi/economy

Economy Grows at 1.7 Percent Pace
By JEANNINE AVERSA, AP Economics Writer
1 hour, 43 minutes ago

The economy hit a soft patch in the final quarter of 2005, growing at an annual rate of just 1.7 percent, an ominous statistic but for fresher readings that suggest America's business health has improved and is mostly sound.

- snip -

The 1.7 percent growth rate in the fourth quarter marked a big loss of momentum from the third quarter's zippy 4.1 percent pace.

The fourth quarter's slowdown was blamed on lingering fallout from the Gulf Coast hurricanes and elevated energy prices, which especially caused consumers to tighten their belts.

Consumer spending in the final quarter of 2005 grew at a pace of just 0.9 percent, the weakest since the first quarter of 1995. A cut in spending on big-ticket goods, such as cars, was the main culprit behind the lethargic showing in overall consumer spending.

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[ozone_man]

1. The end of the free credit spree approaching.

Time to pay it all back now.

[ProfessorGAC]

2. Pfffffft!

Now let's adjust for a 9% rise in prices of a trillion dollar industry (gasoline) and then we'll talk about "growth".
The Professor

[sakabatou]

3. That is slow... really slow

How much faster did the economy grow in the mid to late 90s?

[liberal N proud]

4. Crash

http://www.a1freesoundeffects.com/freesounds/carcrash.wav

[rodeodance]

5. ````The economy hit a soft patch~ puff

[corporate_mike]

6. America's business health has improved and is mostly sound.

good to know :)