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It was the 13th consecutive quarter of economic expansion in America; since the middle of 2009 quarterly output has risen by an average of 2.2%.
One wonders whether the euro zone has already had the best quarterly output performance it will ever manage.And then there is America, trudging steadily upward to the beat of its own drummer.
That is a substantial sum for an economy whose quarterly output is worth approximately £330 billion.It is true that businesses are hurt when they are forced to remain closed and people cannot get into work.
They suggest a structural VAR model for quarterly output and unemployment in the United States from 1950 to 1987.
The quarterly output figures were the first to adapt to a new method of measuring growth, which takes account of a wider range of factors including research and development, and illegal drugs and prostitution.
They estimate the trend and cycle of the quarterly output in the United States for the 1947 1998 period by following the ARIMA (2,1,2) specification, which results in short duration cycles and reinforces the idea of the preponderance of real shocks in the business cycle, although the cycles thus obtained are symmetrical.
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The index has been developed using data from existing quarterly indices of output from the production, services and construction sectors combined with agricultural output data and employee jobs data for the public sector.
The group's latest quarterly survey showed output growth accelerating and investment and job creation holding up.
It's GDP fell by 0.1% in the fourth quarter, the third successive quarterly drop, leaving output 0.6% up on a year earlier.
Spain's grim employment news came as Britain's national statistics office on Friday reported a 1.9percentt drop in gross domestic product in the first quarter from a year earlier, the largest quarterly decline in output recorded since 1979.
Some economists now predict another contraction for Germany in the first three months of 2012, which would meet the usual definition of a recession as two consecutive quarterly declines in output.
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CEO of Professional Science Editing for Scientists @ prosciediting.com