End of Rescission ?

U.S. Economy: Growth Jumps 5.7%, Fastest Pace in Six Years
Jan. 29 (Bloomberg) -- The U.S. economy expanded in the fourth quarter at the fastest pace in six years as factories cranked up assembly lines, indicating the recovery may be strong enough to be weaned from government support.

The 5.7 percent increase in gross domestic product at an annual rate reported by the Commerce Department in Washington today exceeded the 4.8 percent median forecast of economists surveyed by Bloomberg News. Separate reports showed consumer sentiment and a barometer of business activity rose more than forecast in January.

4th quarter's fast economic pace likely to wane

4th quarter's fast economic pace likely to fade as joblessness holds back consumer spending.

WASHINGTON (AP) -- The economy boomed at the end of 2009, growing at the fastest rate in more than six years. Now if only it could keep it up.

The economy expanded at an annual rate of 5.7 percent in the fourth quarter, the second straight quarter of growth. But analysts warn it's unsustainable.

Many analysts predict gross domestic product will expand at a rate closer to 2.5 to 3 percent in the current quarter and 2.5 percent or less for the year.

Kliphnote: I hope it is the end of the rescission. And the hope that the unemployment rate goes down and the economy grows.

Climate chief was told of false glacier claims before Copenhagen

The chairman of the leading climate change watchdog was informed that claims about melting Himalayan glaciers were false before the Copenhagen summit, The Times has learnt.

Rajendra Pachauri was told that the Intergovernmental Panel on Climate Change assessment that the glaciers would disappear by 2035 was wrong, but he waited two months to correct it. He failed to act despite learning that the claim had been refuted by several leading glaciologists.

The IPCC’s report underpinned the proposals at Copenhagen for drastic cuts in global emissions.

Dr Pachauri, who played a leading role at the summit, corrected the error last week after coming under media pressure. He told The Times on January 22 that he had only known about the error for a few days. He said: “I became aware of this when it was reported in the media about ten days ago. Before that, it was really not made known. Nobody brought it to my attention. There were statements, but we never looked at this 2035 number.”