WASHINGTON (AP/WMOT) — Federal statistics out Thursday show the nation’s economy grew at a decidedly anemic pace last year, but the economic news is much better for one at least one mid-state county.
The Commerce Department says the U.S. economy grew at an annual rate 0.4 percent in last year’s final quarter. Analysts think the nation's economy is growing at much faster clip in the current quarter; perhaps as much as 2.5 percent.
A report out Thursday morning from the Federal Bureau of Labor Statistics contains good news for Rutherford County. The county enjoyed the nation's second best rate of job growth last year (Sept. 2011 to Sept. 2012). Rutherford’s employment grew at a 6.8 percent pace during the period, more than five percent above the national average.
Gains in housing and more business spending appear to be fueling faster growth nationwide in the first quarter of 2013.