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Growth in America 2004
Annual
Growth west of the Atlantic
accelerated in 2003 over the previous year. US growth rate
grew to 3.1% after progressing from 2.2% in 2002 according
to data from the Department of Trade. This acceleration is justified in part as
enterprise investment increased to (+2.8% in 2003 after
–7.2% in
2002) also supported by strong consumer spending
which was (+3.1% in 2003 after +3.4 in 2002.
Third quarter earnings in America was
once again supported largely by consumer spending, although
the latter regressed somewhat (+2.6% between October and
December, against +6.9% of the previous third quarter), and
by enterprise investments of (+6.9%).
Engaged for several months in a cost
reduction policy, the latter benefited in productivity gains
and a revamp of in demand, allowing them to increase their
margin, stabilized their financial situation and begun
reinvesting.
The move boosted economist’s confidence
for the present third quarter. Analysts predict that growth
will be around the 4.4% mark in this period and 4.6% over
the cost of the year.
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