Oops -- not quite 5% last quarter:
The economy grew at a 4 percent annual rate in the final three months of 2003 - a slowdown from the red-hot performance of the prior quarter but still compelling evidence of a recovery in full motion at year's end.
The reading on the gross domestic product for the October-to-December quarter, reported Friday by the Commerce Department, came after the economy grew at a sizzling 8.2 percent rate in the third quarter. That had been the strongest performance in nearly two decades.
Not quite as good as hoped -- but a lot more sustainable.
As expected though, the liberal media headlines declare ECONOMIC GROWTH SLOWS TO 4% ... as if the next recession is upon us.
I enjoy your blog. Keep up the good work.
