Over the top? How would you interpret the following Dys? CBS is hardly a GOP propaganda org.
First-quarter GDP another scorcher
By Rex Nutting, CBS.MarketWatch.com
Last Update: 6:49 PM ET April 23, 2004
WASHINGTON (CBS.MW) -- For the third quarter in a row, U.S. economic growth has exceeded all expectations.
Following a blowout third quarter and a very strong fourth quarter, most economists expected the economy to pause just a bit in the first three months of 2004.
Instead, growth apparently accelerated, boosted by consumer spending, business investment, housing and inventory stocking.
The first estimate of first-quarter growth will be released by the Commerce Department on Thursday morning. The report is the highlight of another fairly busy week on the economic calendar.
Economists surveyed by CBS MarketWatch expect, on average, annualized growth of 5 percent in the first quarter after 4.1 percent growth in the fourth quarter and 8.2 percent in the third. See Economic Calendar.
It would be the first time in 10 years that growth exceeded 4 percent for three straight quarters.
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