Keeping Track ...
Us economic growthSkip to next paragraph
Subscribe Today to the Monitor
the US economy grew at a 4.5 percent annual rate for the first three months of this year, more than a percentage point higher than than many economists' expectations. They credited vigorous consumer spending, record low unemployment, and a soaring stock market. The Commerce Department's gross domestic product report also showed mild signs of inflation, raising concern that the Federal Reserve may raise rates. Yet that did little to dampen spirits on Wall Street. The Dow Jones Industrial Average set new records last week, edging close to the 11000 mark.