USA Economy overview
http://www.amcastonline.com/news/articles/5/1/USA-Economy-overview/Page1.html
Tomaso Veneroso
By Tomaso Veneroso
Published on 10/7/2007
Friday's stock gains were fueled by a strong employment report, suggesting that the economy has enough strenght to avoid recession.
Employers added 110,000 jobs last month. The details of the governament data predict that the economy is downshifting to a slower speed.
The USA economic growth is slowing as the deteriorating housing market and credit-market turmoil take a roll.
An average of 74000 jobs per month were created in the private sector.
Forcasters estimate that the economy grew at an annual rate of 3.1% in the third quater downfrom second quarter's 3.8%.
The unticipated decline in payrolls in august that was reported last month contributed to the fed decision to cut interest rates by 1/2 of a percentage point at their September meeting.
The Fed said consumer borrowing grew 6% in August from a year eralier,the fastest in three months.
Employers added 110,000 jobs last month. The details of the governament data predict that the economy is downshifting to a slower speed.
The USA economic growth is slowing as the deteriorating housing market and credit-market turmoil take a roll.
An average of 74000 jobs per month were created in the private sector.
Forcasters estimate that the economy grew at an annual rate of 3.1% in the third quater downfrom second quarter's 3.8%.
The unticipated decline in payrolls in august that was reported last month contributed to the fed decision to cut interest rates by 1/2 of a percentage point at their September meeting.
The Fed said consumer borrowing grew 6% in August from a year eralier,the fastest in three months.
Economy in USA