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Economic Output Hits Pre-Recession Level

First Posted: 01/29/11 11:16 AM ET Updated: 05/25/11 07:30 PM ET

Economic Recovery

The Wall Street Journal:

U.S. economic output finally regained the level reached before the recession, as growth sped up on stronger consumer spending and exports.

Gross domestic product--a broad measure of all goods and services produced--grew at a 3.2% annual rate in the fourth quarter, the government said Friday. That's up from the 2.6% pace notched the quarter before and confirms the view held by many economists and stock-market investors that the economy is gaining enough momentum to start bringing down unemployment in the months ahead.

The expansion in large part was fueled by a jump in consumer spending--a crucial change from earlier in the recovery, when growth relied heavily on businesses investing and building up inventories.

Read the whole story: The Wall Street Journal

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Filed by William Alden  |