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Economy
In reply to the discussion: Weekend Economists Salute the 99% September 26-28, 2014 [View all]
xchrom
(108,903 posts)30. ECONOMY'S Q2 REBOUND WAS EVEN FASTER THAN THOUGHT
http://hosted.ap.org/dynamic/stories/U/US_ECONOMY_GDP?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-09-26-18-17-46
WASHINGTON (AP) -- The U.S. economy's bounce-back last quarter from a dismal winter was even faster than previously thought, a sign that growth will likely remain solid for rest of the year.
The economy as measured by gross domestic product grew at a 4.6 percent annual rate in the April-June quarter, the Commerce Department said Friday. It was the fastest pace in more than two years and higher than the government's previous estimate of 4.2 percent.
The upward revision reflected stronger-than-expected business investment and exports last quarter.
The healthy second-quarter growth marked a sharp rebound from the January-March quarter, when the economy shrank at a 2.1 percent rate in the midst of a brutal winter that idled factories and kept consumers at home.
WASHINGTON (AP) -- The U.S. economy's bounce-back last quarter from a dismal winter was even faster than previously thought, a sign that growth will likely remain solid for rest of the year.
The economy as measured by gross domestic product grew at a 4.6 percent annual rate in the April-June quarter, the Commerce Department said Friday. It was the fastest pace in more than two years and higher than the government's previous estimate of 4.2 percent.
The upward revision reflected stronger-than-expected business investment and exports last quarter.
The healthy second-quarter growth marked a sharp rebound from the January-March quarter, when the economy shrank at a 2.1 percent rate in the midst of a brutal winter that idled factories and kept consumers at home.
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