Friday, 30 October 2009

US economy returns to growth

Plenty of positive economic reports on Thursday.

In the US, the economy returned to growth in the third quarter. Bloomberg reports:

The U.S. economy returned to growth in the third quarter after a yearlong contraction as government incentives spurred consumers to spend more on homes and cars.

The world’s largest economy expanded at a 3.5 percent pace from July through September, figures from the Commerce Department showed today in Washington. Household purchases climbed 3.4 percent, the most in two years.

The reports out of Europe were also positive. From Bloomberg:

European factories increased capacity usage on assembly lines for the first time in two years this quarter as confidence in the economic outlook rose to the highest since Lehman Brothers Holdings Inc. collapsed.

Assembly-line activity in the euro area rose to 70.7 percent of capacity this quarter from 69.6 percent in the prior three months, the European Commission in Brussels said today. An index of executive and consumer sentiment jumped to 86.2, the highest since September 2008, when Lehman filed the biggest bankruptcy in U.S. history, compounding the financial crisis.

And Japanese industrial production rose again in September. AFP/CNA reports:

Japan's factory output rose for a seventh straight month in September, data showed Thursday – the latest sign the world's second largest economy is slowly recovering from a deep recession.

Industrial production increased 1.4 per cent in September from August, extending its longest unbroken expansion in 12 years, as car makers boosted their output in response to recovering demand, the government said.

1 comment:

Bad Credit Motorcycle Loans said...

Yeah even, i read this report. It is pretty relaxing now. I hope this growth will sustain for some longer time, so that economy can get back to its normal position.

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