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  1. #1
    Good Enough ZORBA5150's Avatar
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    07.03.16 @ 04:13 AM
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    Default GDP GREW 5.3% IN THE 1ST QUARTER

    The economy is on fire:

    Economy dashes ahead at 5.3 percent pace By JEANNINE AVERSA, AP Economics Writer
    27 minutes ago

    WASHINGTON - Emerging from a year-end rut, the economy dashed ahead in the opening quarter of this year at a 5.3 percent pace, the fastest in 2 1/2 years.

    The new snapshot showed gross domestic product was even stronger during the January-to-March period than the 4.8 percent annual rate first estimated a month ago, the Commerce Department reported Thursday.

    Gross domestic product measures the value of all goods and services produced within the United States and is considered the best barometer of the country's economic fitness.

    The upgraded reading on GDP, based on more complete information, mostly reflected stronger U.S. exports and better inventory building by businesses.

    Economists, however, were predicting an even bigger upgrade to the first-quarter reading. Before the release of the report they were forecasting economic growth to clock in at a 5.8 percent pace. Even though the revised figure fell short of that, it nonetheless made clear that the economy had snapped out of its end-of-year lull.

  2. #2
    Good Enough Phatie's Avatar
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    09.01.07 @ 02:35 PM
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    Default ...And Look Where the $$$ went!!

    Military growth alarms Pentagon
    By Tim Reid

    The Pentagon expressed alarm over the rapid pace of China’s military expansion and gave warning that Beijing is intent on projecting its missile, naval and aircraft power far beyond its shores.

    The Pentagon also asserted that China’s defence spending is two to three times higher than official figures provided by Beijing, and that its budget could reach $105 billion (£56 billion) this year.

    Releasing its annual report on China’s military to Congress, the Pentagon also highlighted the modernisation of its nuclear arsenal and its purchase of weapons from Russia.

    It said that the lack of transparency and the scope of the arms build-up appeared to be a desire by Beijing “to interdict, at long ranges, aircraft carrier and expeditionary strike groups that might deploy in the western Pacific”. A US-led task force would likely be deployed in the Pacific should China attack Taiwan.,00.html



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