Feb. 2, 2004: U.S. Economy Grows 4 Percent In Fourth Quarter
WASHINGTON - The economy grew at a rate of 4 percent in the fourth quarter of 2003, according to a report from the U.S. Department of Commerce. This was down from the very strong 8.2 percent rate of growth in the third quarter. But that robust pace was considered unsustainable by economists and more moderate growth was expected as the year wound down.
Major contributors to fourth quarter growth included equipment and software as well as residential fixed investment. However, both those areas grew more slowly than they did in the third quarter. But that was partly offset by an upturn in inventory investment.
For the full year, the U.S. economy advanced by 3.1 percent in 2003, the best performance since 2000.
Publication date: 02/02/2004
Looking for quick answers on air conditioning, heating and refrigeration topics? Try Ask ACHR NEWS, our new smart AI search tool. Ask ACHR NEWS
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
