RateAPY

Best Banks to Use in Economic Recovery

Posted by: RateAPY Bank Rates News
October 29th, 2009

The GDP grew 3.5% in the third quarter of 2009, much higher than expected. This is the first time the GDP has been in positive territory in over a year. The main reason given by some economic experts for growth included government stimulus programs such as the Cash For Clunkers program, which temporarily stimulated auto sales. A drop in inventory liquidation by manufacturers is also helping the GDP growth figure. Although some are declaring this the official end of the recession, the recovery road ahead is rocky, especially before the labor market catches up.

Best Interest Rates on Certificates of Deposit, Savings Accounts, and Checking Accounts

Even the end of the recession, however, may not change the savings focus of many consumers: to pay off debt and put more money in high-interest certificates of deposit, savings accounts, and checking accounts. Banks that offer online services in particular are able to provide exceptional interest rates, passing lower costs onto consumers. Consider opening an online savings account or certificate of deposit.