GDP Revised Up on Stronger Exports

51 minutes ago

WASHINGTON (Reuters) - U.S. economic momentum at the end of 2004 was significantly stronger than previously thought, according to a Commerce Department (news - web sites) report on Friday that revised up fourth-quarter national output to reflect a stronger trade and investment performance.

Gross domestic product, the gauge of total goods and services production within U.S. borders, grew at a revised 3.8 percent annual rate in the final three months of last year instead of 3.1 percent reported a month ago. That was slightly stronger than the 3.7 percent rate that Wall Street economists had forecast and only a small decline from the third quarter's 4 percent pace.


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Stronger exports. Probably due to the weaker dollar.

Anyone here remember the fear-mongering that was going on re: a weaker dollar? It made no sense to me, but it was getting plenty of press and hype. Coincidently, it was loudest right around the election.