U.S. economic growth at 4 percent - 2004-01-31
The nation's economy expanded at a decent — but not great — 4.0 percent annual rate in the year's final quarter, a slower-than-expected pace that suggests high unemployment is likely to remain a sore subject as the presidential election year plays out.
In 2003's third quarter, GDP grew at a breathtaking 8.2 percent annual rate as the economy got a temporary boost from heavy government expenditures and from a burst of spending from consumers who were flush, thanks to tax-rebate checks from Uncle Sam and cash from mortgage refinancings.
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