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The U.S. economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest in more than six years, as businesses made less-aggressive cuts to inventories and stepped up spending.Separately, The Institute for Supply Management-Chicago said on Friday its index of Midwest business activity rose more than expected in January to 61.5 from 58.7 in December. Economists polled by Reuters had forecast a January figure of 57.4. A reading above 50 indicates expansion in the regional economy.
This is good news, but job seekers should be too encouraged yet, since employment is a lagging factor. Improvement still won't show up there for a while. Hopefully, the bottom has already happened, and the economy is still rebounding. But we are not out of the woods yet. If Obama's stimulus is the only thing that is driving the economy right now, then we could be in for a double dipper. But, maybe, we could finally be coming out of this crisis. I am taking a wait and see attitude for right now. Let's see what the next couple of quarters bring.
Article is here.