US economy is growing once again

by Babel-Fish | October 29, 2009 at 01:29 pm
137 views | 4 Recommendations | 3 comments

Photos

National Bankruptcy | Photo 03

National Bankruptcy | Photo 03

see larger image

uploaded by PIM of SPAIN

The US economy grew at an annual pace of 3.5% between July and September, its first expansion in more than a year.

The growth was helped by a substantial government spending plan, including a scrappage scheme to boost car sales.

The official figures indicate recession has ended, but some economists think there could be further setbacks.

President Obama said while "welcome news", the US was still a "long way" from recovering from the "deepest downturn since the Great Depression".

President Obama: "We've got a long way to go to fully restore our economy"

The return to growth of the world's largest economy also sent shares on Wall Street sharply higher. The main Dow Jones index closed up 200 points, or 2.1%, at 9,962.58.


Well that's a relief, the slow incline of the US stock market hit a new peak. However the world is in a better recovery state than the US. But on second thoughts looking at the history of all the global stock markets the whole worlds been on a slow recovery since March 2009. One can not dismiss charts.  

I can now provide you with proof there global economic recovery taking place... 

Advertisement
recommend Sign In or Join to post comments
1
a211423

I have read several articles about this, and most are positive with only one negative.  The growth also was attributed to increased buying in the real estate market.  So, people are taking advantage of the lower prices for homes.  I just hope they can keep their jobs so they pay for them!  

0
Babel-Fish

Thanks your comment inspired me to write an article today that to me shows the truth.

0
MSR msr

Pray the god that, atleast remain the US as is/at the current position, that wuld b more than enough......bcoz, am expecting that, it will go further worst and worst.....but, this time, this will happen unknowigly!! bcoz, the bubble burst and stabilizing/settling (does not mean that, it stopped to go further lower/worst) into realistic position, so, now these the figures(unemployment, inflation, dollar exchange rate, earning power, purchasing power, how much quantity crude oil will come per one dollar, assets worth, wealth creation pace, changing attitude of spending of peeople) are reflects the actual worthyness!! and these figures are really realistic!! all this ongoing recession is pain/result from the mal practises done by all, like increasing worth of assets artificially, loop holes, making quick money, instead of creating new wealth letting the money cirlulate between hands(this creates penny amounts, but, its not real wealth creation), over looking past lessons, over confidence......so, bottom of the line, it wuld b greate to stay remain as is now, other wise, there are lot of possibilities that, it will go still deeper recession.....while other countires/rest of the world wake up/stood from mud early, effectively, steadily, got on to tracks and travelling again smoothly, but, here , hmmmmm!! hope to remain as is!!

What is NowPublic?

NowPublic lets people work together to cover news events around the world.

Find out more

Crowd Power

a211423
First Flagged at 1:35 PM, Oct 29, 2009 by a211423
These members have powered this story:

Related Stories

Recommendations (4)

Most recently recommended by:
 

closeSign in to NowPublic

is reporting from