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w/price deflator of 2% annual, Economy grew 3.1% - so with real price

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papau Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 09:03 AM
Original message
w/price deflator of 2% annual, Economy grew 3.1% - so with real price
defator the economy grew ????????

Wages at slowest growth in 6 years!

http://www.bloomberg.com/apps/news?pid=10000087&sid=akT...

U.S. GDP Grew at Less-Than-Expected 3.1% Rate in 4Q (Update1)
Jan. 28 (Bloomberg) -- The U.S. economy cooled to a 3.1 percent rate of growth in the final three months of last year, hindered by a record trade deficit, the government said.

<snip>The trade deficit, which swelled to its widest ever in November, subtracted 1.7 percentage points from fourth-quarter growth.

<snip>U.S. labor expenses also increased at a slower pace in the fourth quarter, reflecting the smallest gain in wages in almost six years, the Labor Department reported today.

<snip>Gross domestic product, the total value of goods and services produced during the period, grew to $11 trillion at an annual rate for the quarter after adjusting for inflation. It was $10.8 trillion for the year. The economy grew 3 percent in 2003.

<snip>Government spending rose at a 0.9 percent annual rate last quarter after a 0.7 percent increase.

<snip>The implicit price deflator, a measure of prices tied to the report, rose at a 2 percent annual rate, after gaining 1.4 percent in the third quarter. The personal consumption expenditures price index, a measure tied to consumer spending, rose at a 2.5 percent annual pace from a 1.3 percent pace.




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Tandalayo_Scheisskopf Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 09:11 AM
Response to Original message
1. This manicured economy...
Is all about eroding wages and worker benefits. Nothing more or less.
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