US Economy Surges 5.9 Percent in Q4 of 2009
US economy surged 5.9 percent in the Q4 of 2009 as the Commerce Department released a revised data showing that there was an even stronger push in the country’s GDP last year.
The surprising data was not expected, as most of the analysts said that there will no more movement in the last quarter of 2009.
A revised data released by the United States Commerce Department on Friday showed that the economy has surged by around 5.9 percent in the fourth quarter of 2009, suggesting an even stronger push to economic recovery.
Earlier records showed that the US economy only managed to increase by 5.7 percent. But the revised annualized growth rate showed that economic activity in the country is much stronger that what analysts predicted.
The new data even surprised analysts, who were expecting no change from the first estimate, as the US gross domestic product out spiked up in the last quarter of last year. It was also the strongest surge since 2003. The GDP growth as the second consecutive quarter of growth posted in US after being hit by the recession a year earlier.
With the new data released, the government is now expecting a larger participation from the private sector in terms of private inventory, nonresidential fixed investments, and stronger exports by the manufacturing sector.
Meanwhile, Moody’s Economy.com analysts Augustine Faucher said that the new data will now pave way for the economic recovery, adding that there will be an even stronger push by the private sector to get back into shape.
Faucher also said that the strong showing of the economic activity in the US would continue in the next three quarters as firms continue to replenish their stocks.
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