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Gross Domestic Product

BUSINESS
August 18, 2004 | From Bloomberg News
Mexico's economy grew in the second quarter at its fastest pace since 2000 on resurgent demand from the U.S. for the country's electronics, oil and metals. Mexican gross domestic product, the broadest measure of output of goods and services, grew 3.9% from the same period last year after expanding 3.7% the previous quarter, the Finance Ministry said Tuesday. Mexico's economy expanded 1.2% from the first quarter in seasonally adjusted terms, the ministry said.
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BUSINESS
July 31, 2004 | Bill Sing, Times Staff Writer
The nation's economy slowed sharply in the second quarter, the government reported Friday, renewing concerns about whether modest expansion might persist and dampen job creation. The less-than-expected 3% annualized growth rate in gross domestic product -- the value of all goods and services produced in the U.S. -- was the slowest in more than a year, the Commerce Department said. The relatively modest April-June performance was affected primarily by consumers closing their pocketbooks.
OPINION
December 1, 2003
A Nov. 26 front-page headline states: "Economy Expands at Fastest Clip Since 1984" and the subheadline reads, in part, "GDP growth is revised up to 8.2%, thanks to business spending." "Oh boy!" the people say. "Let's vote for Bush." But think about it: The gross domestic product is up -- way up -- because it includes the $100 million a day the military-industrial complex is blowing on Iraq and elsewhere. Oh, by the way, the subheadline concludes with: "But hiring remains weak." Don Kurtz Simi Valley
BUSINESS
September 27, 2003 | Jesus Sanchez, Times Staff Writer
The U.S. economy grew at a faster pace than previously estimated during the second quarter, with expenditures by consumers and government driving much of the increase, a government report said Friday. However, consumer sentiment in September was weaker than previously reported, dropping for the second month in a row, according to a widely watched survey by the University of Michigan.
BUSINESS
September 15, 2003 | From Reuters
Vice President Dick Cheney said Sunday that the United States had "turned the corner" to economic recovery and he expected gross domestic product growth next year of 4% or better. On NBC's "Meet the Press" program, Cheney also said the administration expected to cut the federal deficit "roughly in half" from next year's level in the coming five years. "Going into next year, we anticipate ... growth on the order of 4% or better in GDP," Cheney said.
BUSINESS
August 12, 2003 | Yuri Kageyama, Associated Press
Japan's economy expanded for the sixth straight quarter, growing 0.6% in the three months through June, but analysts warned against too much optimism about the weak recovery gaining more momentum.
BUSINESS
March 1, 2003 | Peter G. Gosselin, Times Staff Writer
The nation's economy grew at a 1.4% annual rate in the final three months of last year as businesses replenished inventories and consumer purchases were higher than previously thought, the Commerce Department said Friday. The fourth-quarter growth was twice the pace that the department estimated last month and showed that the economy was not as weak as the original 0.7% estimate suggested. But analysts were hardly rushing to raise their forecasts for this year.
BUSINESS
January 31, 2003 | Peter G. Gosselin, Times Staff Writer
The American economy grew at a mere 0.7% pace last fall, the Commerce Department said Thursday, as consumers slowed their spending amid renewed fears over job security, stock declines and the prospect of war with Iraq. The economy's weak performance from October to December brought to 2.4% the growth rate for 2002, according to Commerce. That's an improvement on 2001's 0.3% growth rate but nothing like the snapback that some economists had been forecasting.
BUSINESS
August 1, 2002 | PETER G. GOSSELIN, TIMES STAFF WRITER
New measures released Wednesday show that the nation's economic recovery--which seemed so dazzling in the immediate aftermath of last year's terror attacks--is stumbling. The gross domestic product, which measures the economy's total output of goods and services, grew at only a 1.1% annual rate in the spring, according to new figures from the Commerce Department. That was less than half what had been expected and substantially less than the 5% pace of earlier this year.
OPINION
July 14, 2002 | JOHN J. HAMRE and THOMAS W. JONES, John J. Hamre is president and chief executive of the Center for Strategic and International Studies. Thomas W. Jones is chairman and chief executive of Global Investment Management and Private Banking Group, Citigroup.
In a world trying to deal with terrorism, catastrophic illness, starvation, drought and nuclear war prevention, old age doesn't seem terribly threatening. But during the next three decades, simultaneous aging crises in Europe, Japan and North America have posed a serious threat to global stability, with everything from the investment returns on 401(k) plans to peace and prosperity in the Third World at risk. We can avert this mega-crisis, but the problem is worse than governments acknowledge, and time is fast running out. A recent study by the Center for Strategic and International Studies (CSIS)
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