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The economy grew at a solid 3.8 percent annual rate in the final quarter of 2004 mdash; stronger than previously estimated and an encouraging sign that the business expansion was firmly entrenched at the start of the new year.The new reading on gross domestic product, released by the Commerce Department Friday, was better than the government s initial calculation made a month ago. That estimate showed the economy growing at a 3.1 percent pace.The improvement reflected more robust spending by businesses on capital equipment and to build up inventories of goods. The trade deficit also was less of a drag on fourth-quarter growth than initially thought.In more good news for the economy, sales of existing homes edged down a slight 0.1 percent in Jan stanley termohrnek uary as attractive mortgage rates continued to support strong demand in the housing market, the National Association of Realtors reported FridayGDP, the stanley becher broadest barometer of the country s economic health, measures the value of all goods and services produced within the United States. stanley cup The new fourth-quarter GDP figure also was better than the 3.5 percent growth rate that economists had forecast in advance of Friday s release.Although economic growth in the final quarter of last year was a bit slower than the 4 percent pace measured in the third quarter, the performance was still solid.For all of 2004, the economy expanded by 4.4 percent, the best showing in five years. This annual estimate was the same as first reported last mon Obuh Dead Marine s Dad Must Pay Protesters Tab
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