In 2004, the stronger real growth of 4.8 percent in manufacturing led the goods-producing sector to its most robust contribution to U.S. economic growth since 2000. The sector accounted for almost one-fifth of the 4.2 percent real GDP growth in 2004, compared to almost one-tenth in 2003.
What happened to the economy in 2004?
Real GDP grew 4.4 percent in 2004, the strongest since 1999. Industrial production at an index of 115.5 rose above the 2000 high of 115.4, with gains in major categories except mining. The capacity utilization rate of 78.0 was the highest since 2000s 82.0. Manufacturers new orders at 365.7 billion docHubed a new high.
What was the fastest growing economy in the world in 2004?
Virtually every major economy in North America, South America, Europe and Asia grew faster in 2004 than in 2003. China continued to be the fastest growing major economy in the world at a 9.0 per cent annual rate.
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by EM Engen 2005 Cited by 617 An earlier draft of this paper was prepared for presentation at the NBER Macroeco- nomics Annual Conference in Cambridge, MA, April 2-3, 2004. We thank Bill
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