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ECONOMY

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From Times Staff and Wire Reports

Gross Domestic Product Up Sharply: The economy surged forward at its briskest clip in 10 years in the closing months of 1993, the Commerce Department said, and analysts said the momentum carried forward into this year. The estimate of fourth-quarter gross domestic product was revised from a month ago to show output expanding at a 7% annual rate instead of 7.5% in the last quarter of 1993. It was the strongest quarterly growth since 1984, when the GDP gained 7.9% in the first quarter. GDP measures all goods and services produced by U.S. workers and capital.

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