This is GREAT news for
John McCain Barack Obama!
Reuters is reporting that the U.S. Commerce Department has upgraded the fourth quarter 2011 GDP results up to 3% growth from 2.8%.
The economy grew slightly faster than initially thought in the fourth quarter and a gauge of factory activity in the Midwest hit a 10 month-high in February, pointing to underlying strength in the economy.
Gross domestic product expanded at a 3 percent annual rate, the quickest pace since the second quarter of 2010, the Commerce Department said on Wednesday in its second estimate.
The reading, which was up from the 2.8 percent pace the government reported last month and reflected modest upward revisions to almost all components of GDP, added to the recent run of fairly upbeat economic reports.
“Pointing to underlying strength in the economy”. I like that statement. I like that a lot, in fact. If we keep this up, Barack Obama is going to go and get himself reelected.
[Photo credit: Anne C. Savage, used with permission.]