US gross domestic product grew at an annualized rate of 4% in the fourth quarter, the Commerce Department said Thursday. Economists surveyed by Bloomberg expected growth to come in at 4.2%. The gains come after economic reopening drove a record-high growth rate of 33.1% in the third quarter. While the […]
US gross domestic product grew at a record 33.1% annualized rate in the second quarter, the Commerce Department said on Thursday. The jump followed the second quarter’s 31.4% annualized slump and roughly doubled the next-biggest increase on record. Economists surveyed by Bloomberg had expected a 32% increase. The GDP reading […]
US factory output plunged the most since April as the 40-day General Motors strike pulled the metric lower. Manufacturing output dropped 0.6% in October, according to a Friday release from the Federal Reserve. Factory output of motor vehicles and related parts dropped 7.1% last month. Excluding the motor vehicles sector, […]
