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|WASHINGTON Cheap Browns T-Shirts , May 26 (Xinhua) -- The U.S. economy in the first quarter grew at a faster pace than previously estimated, driven by strong fixed investment and solid consumer spending.
The real gross domestic product (GDP) increased at an annual rate of 1.2 percent in the first quarter, higher than the previously estimate of 0.7 percent, but still lower than the 2.1 percent growth in the fourth quarter of last year, according to the second estimate released by the Commerce Department on Friday.
The upward revision was attributed to the faster increases in nonresidential fixed investment and consumer spending, said the Commerce Department.
Consumer spending, which accounts for about 70 percent of the U.S. economy, increased 0.6 percent in the quarter, faster than the advance estimate of 0.3 percent, but still lower than the 3.5 percent in the previous quarter.
Growth of nonresidential fixed investment was revised up to 11.4 percent in the quarter from the advance estimate of 9.4 percent, hitting a five-year high.
U.S. Federal Reserve officials hold that the slower growth in the first quarter was a blip and expected the growth would pick up pace in the coming quarters, according to the minutes of the central bank's latest policy meeting.
They hold that the weak consumption spending at the beginning of this year was also transitory and expected that consumption growth would pick up pace in coming months because of the solid fundamentals, such as solid job gains, rising household income and wealth, improved household balance sheets, and buoyant consumer sentiment.
Market analysts widely expect that the Fed would stick to its interest rate hike plan this year in which the central bank officials forecast two more hikes for the rest of this year.
The Fed might raise interest rate as soon as at its June meeting, said market analysts.
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For small business owners, the idea of setting up a website can seem overwhelming. It’s often assumed that website creation requires learning complicated coding or software, or paying for rather expensive website design and hosting. The time involved in setting up a website seems like it could be better spent elsewhere.
People are searching for you on the internet
There are over 1.7 billion internet users worldwide, and studies indicate that 75% of those people have purchased online.
A survey in 2009 revealed that 63% of people use the internet as their first resource in searching for a local product or service.
If you’re not online, then your competitors who are online have a massive advantage over you in being immediately more visible to your potential customers.
Putting your business online gives you a chance to be visible in the big search engines Google, Yahoo and Bing, which will help people find your website and your contact details.
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Having a permanent website address is an excellent way for your satisfied customers to pass your details on to a friend who may also become your customer. It’s word of mouth advertising for the information age. You can even include a section on your website for testimonials from satisfied customers, to encourage others to seek you out.
Once you have a website, your other advertising costs can drop significantly.
Having a website can save you time and help you work more efficiently
How many calls do you receive in a week from customers who are just asking “What time are you open until?” or “What’s your address?” Your website can show this information prominently, even including a map and the ability to give directions right from the customer’s house to your business!
Do customers contact you frequently for quotes or estimates, or with general enquiries? Using a contact form on your website, the customer can send in their query, and you (or your team) can answer it at a time that suits the business.
A website inspires customer trust
Simply having a website online can give the impression that you are well-established and “with it”.
A 2009 survey showed that people are 47% more likely to buy from a business with a website, than without.
Your customers can also read about your products or services 24 hours a day, as well as check important information such as your membership of national trade associations.
Having a website doesn’t have to take time or money
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