The US Commerce Department said today that the economy grew at an annual rate of 2.8 percent in the final quarter of 2010. The news was somewhat disappointing as projections called for 3.2 percent growth.
Ã¢â‚¬Å“The economy underperformed expectations in the fourth quarter,Ã¢â‚¬Â said Ryan Sweet, a senior economist at MoodyÃ¢â‚¬â„¢s Analytics Inc. in West Chester, Pennsylvania. Still, Ã¢â‚¬Å“if you factor in the rising gas prices, the economy is performing well. Consumers are taking the rise in gasoline prices in strideÃ¢â‚¬Â so far, he said.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.