American economy stronger
NZPA-Reuter Washington The United States economy continued to bounce back from recession in the last three months of 1980, the Commerce Department has said. ■ The department reported that the gross national product, the value of all goods and services produced, for the quarter climbed at a healthy, 5 per cent annual rate. .',”. .
That was better than most economists had expected, and cast new doubt on predictions by. some analysts that the nation was headed into, a new ■ recessionary period. .' ■'.'■ ■■ . The fourth quarter surge contributed to a second-half increase which cancelled out most of the loss suffered early in the year, after tight credit controls depressed the economy. For the year as a whole, the gross national product declined by just one-tenth of one per cent. Courtenay. . Slater, chief economist for the Commerce Department, called the fourth-quarter. increase “a little more than we we.re expecting.” ... . , She predicted continued growth in the economy in the first half of 1981, though probably at a' much slower pace.
American economy stronger
Press, 23 January 1981, Page 6
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