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US economy grows 3.2 per cent in fourth quarter

The American economy grew 3.2 per cent, over the fourth quarter of last year, up from the 2.6 per cent GDP growth recorded in the third quarter, according to the Bureau of Economic Analysis.

As a result, over the course of 2010 real GDP rose 2.9 per cent in 2010 after falling 2.6 per cent in 2009.

The growth over the quarter was down on the 3.5 per cent that economists had expected, although it is a first estimate and may later be upgraded.

The labour department said the increase in real GDP in the quarter primarily reflected positive contributions from personal consumption expenditures, exports, and nonresidential fixed investment.

Indeed, consumer spending saw its largest quarterly rise since the first quarter of 2006, rising 4.4 per cent in the fourth quarter.


BTL business boost beckons

There seems to be some general consensus that the outlook for this year is pretty flat against last year, with most commentators suggesting gross lending of around £135bn. Much of it is driven by some of the big lending outfits, including Lloyds and Abbey, confirming they will be looking to lend roughly what they did […]


FSA chairman warns of “radical” fee caps and product bans

FSA chairman Adair Turner has suggested a “radical rethink” of regulation which could include the introduction of price caps and bans on some retail financial products. The regulator has published a discussion paper on product intervention today, looking at whether new powers should be granted to the forthcoming Consumer Protection and Markets Authority, which is […]

Richard Buxton

Schroders’ Buxton says being positive can pay off

Schroders UK equity fund manager Richard Buxton has rejected criticism that fund managers always issue positive outlooks, saying sometimes the market consensus is actually right. Buxton, who has predicted the FTSE 100 will rise by 25 per cent in 2011 in several statements in recent weeks, was speaking at last week’s Joint Investment Forum hosted […]

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.


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