WASHINGTON – THE US economy exited recession in the third quarter, posting the strongest growth in two years, according to government data released on Thursday.
After four quarters of contraction, the economy grew at an annualized 3.5 per cent in the July-September period from the prior quarter, the Commerce Department reported.
It was strongest expansion since the 2007 third quarter, when a US subprime mortgage crisis triggered a global financial crisis that hammered the world economy.
The department’s first estimate of third-quarter gross domestic product (GDP), the broadest measure of the output of goods and services in the world’s largest economy, was much better than the 3.2 per cent rate expected by most analysts.
The department said the economy shrank an unrevised 0.7 per cent in the second quarter. The third-quarter increase was led by a rise in consumer spending, up 3.4 per cent, adding 2.36 percentage points to GDP growth.
Consumer spending, which accounts for two-thirds of US economic activity, ground to a halt in the second half of 2008 as the financial crisis accelerated after Wall Street investment bank Lehman Brothers failed. — AFP
It’s women’s month!
“Support women every day of the year!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week
Women’s Week
Week 3: Philippine Industry and Made-in-the-Philippines
Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
Mar 4— Employee Appreciation Day
Mar 15 — World Consumer Rights Day
Mar 18 — Global Recycling Day
Mar 21 — International Day for the Elimination of Racial Discrimination
Mar 23 — International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
Mar 25 — International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade
Mar 27 — Earth Hour
