tailieunhanh - United States General Accounting Office GAO March 2000 Report to the Congress _part2

Hiệu suất kinh tế mạnh mẽ tiếp tục FIS cal 1999 là một trong những ac cel er ating tăng trưởng nomic sinh thái. Cũ chảo sion en tered của năm thứ chín và di chuyển gần hơn với chiều dài dây mới lại. GDP thực tế tăng 4,3% trên bốn ters quar của FIS cal 1999, en com qua quar thứ tư ter Dar cal en 1998 thông qua thứ ba quar ter Dar cal en 1999. Điều này đã được nhanh hơn so với tăng trưởng trong vi độc hại trước năm FIS cal và cao hơn mức trung. | DIS CUS SION AND ANAL Y SIS 5 Continued Strong Economic Performance Fis cal 1999 was one of ac cel er at-ing eco nomic growth. The ex pan -sionentereditsninth year and moved closer to a new re cord length. across the four quar ters of fis cal 1999 which en com passes the fourth quar ter ofcal en dar1998 through the third quar ter of cal en dar 1999. This was faster than growth over the pre -vi ous fis cal year and higher than the average through outtheex pansion-ary pe riod. Growth was led by strong gains in pro duc tiv ity. Af ter trending up at an average an nual rate of about per -cent from 1974 to 1995 av er age in -creases in la bor pro duc tiv ity ac cel -erated by more than a full per cent age point to per cent over the past 4 fis cal years. In 1999 pro -ductivitygrowthpickedupeven more to per cent over the four quar ters of the fis cal year. This is an unusuallyfavorableperformanceat this stage of an ex pan sion when pro -ductivitygrowthtypicallyslows down from its ear lier pace. Partly it re flects the cap i tal deep en ing that has oc curred in re cent years due to rapid gainsinbusinessinvestment and partly it may re flect im prove ments in produc tionderivingfrom in formation tech nol ogy. The faster rate of growth of pro duc tiv ity has in creased overall eco nomic growth and standards of liv ing al low ing the un em -ployment rate tofallwithout a buildup of inflationary pressures. Growth in con sumer spend ing and busi ness in vest ment in cap i tal equipment and soft ware was very rapid in fis cal 1999. Real con sumer pur chases acceleratedto more than 5 per cent over the year to post the fast est rate of in crease in 14 years. Higher spend ing was fu eled by ris ing em ploy ment and in comes and higher net worths pri-mar ily due to theris ing stock mar ket. Pri vate in vest ment in equip ment and soft ware which in creased at double-digit rates over the past 7 years also ac cel er ated in fis cal 1999 and recorded