GDP Growth Beats Estimates for 2009

GDP growth beat estimates this morning and grew by 5.7% between October and December in 2009, official figures have shown. The number, which is a first estimate, is a big rise from the previous quarter’s growth rate of 2.2%. It suggests the country’s economy is growing at its fastest pace for six years and confirms the US economy has left its year-long recession behind. But even with the rebound, gross domestic product (GDP) shrank by 2.4% across 2009 as a whole – the most important factor and number in this whole analysis.