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
Nov 16 – International Day for Tolerance
“No more toleration of corruption!”
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
November
Nov 2 – Intl Day to End Impunity for
Crimes Against Journalists
Nov 9 – World Science Day for Peace
and Development
Nov 16 – International Day for Tolerance
Nov 19 – World Toilet Day
Nov 20 – World Children’s Day
Nov 25 – Intl Day for the Elimination of
Violence Against Women
Monthly Observances:
Homes Safety Month
Filipino Values Month
National Rice Awareness Month
National Consciousness Month
for Punctuality and Civility
Environmental Awareness Month
National Children’s Month
Organic Agriculture Month
Weekly Observances:
Nov 19-25: Global Warming and
Climate Change Consciousness Week
Nov 23-29: National Girls’ Week
Population and Development Week
Nov 25 – Dec 12: Social Welfare Week
18-Day Campaign to End
Violence against Women
Week 2: Week 3: Drug Abuse Prevention
and Control Week
Last Week: Safety and Accident
Prevention Week
Daily Observances:
Last Saturday: Career Executive Service
Day
Nov 19: National Child Health Day
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