WASHINGTON, Feb. 27 (UPI) -- A report issued Friday by the Congressional Joint Economic Committee says positive trends in the U.S. economy can been seen in a broad array of measurements.
"The U.S. economy in the last two quarters has performed better than in any comparable period in many years," JEC Vice Chairman Jim Saxton, R-N.J. said. "Over the last two quarters the economy expanded by $310.9 billion, increasing the size of the U.S. economy to $10.6 trillion."
Saxton says a rebound in U.S. business investment was a key factor in the economy's recent improvement.
"This turnaround in investment is significant since it was the weakness in investment that had led the economy into the slowdown in 2000, which later became a recession," Saxton said.
The report, Current Economic Conditions and Outlook, looked at recent trends in economic growth, investment, consumption, housing, the stock market, employment, inflation, interest rates and other economic indicators.
