US exits recession

Published by rudy Date posted on October 31, 2009

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

Sept 5 – Oct 5
National Teachers Month

“Pay teachers decent wages,
Pay attention to teachers!”

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
#Report Corruption #SearchPosts #TakePicturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

September


Monthly Observances:

Health, Safety, and Sanitation Month
Clean-up Month
Civil Service Month

National Peace Consciousness Month

Social Security Month

Rule of Law Month

National Teachers’ Month (Sept 5-Oct 5)

 

Weekly Observances:

Sept 17 – 23:

World Clean and Green Week

Week 2: Education Week

Week 4: Medicine Week

Last Week: Family Week


Daily Observances:

Third Saturday: International Coastal Clean-up Day

Third Monday: World Health Day

Last Friday: National Maritime Day

Sept 8: National Literacy Day

Sept 15: Philippine Medicine Day

Categories

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.