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U.S. economy rebounds strongly in second quarter

This is a discussion on U.S. economy rebounds strongly in second quarter within the Current Events forums, part of the Tech Support Forum category. U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior period


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Old 07-30-2014, 06:37 AM   #1
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U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior period was less steep than previously reported, which could bolster views for a stronger performance in the last six months of the year.

Gross domestic product expanded at a 4.0 percent annual rate as activity picked up broadly after shrinking at a revised 2.1 percent pace in the first quarter, the Commerce Department said on Wednesday.

That pushed GDP above the economy's potential growth trend, which analysts put somewhere between a 2 percent and 2.5 percent pace. Economists polled by Reuters had forecast the economy growing at a 3.0 percent rate in the second quarter after a previously reported 2.9 percent contraction.
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The government also published revisions to prior GDP data going back to 1999, which showed the economy performing much stronger in the second half of 2013 and for that year as a whole than previously reported
Really good news . . Combined with the jobs report, things are looking up!

U.S. economy bounces back strongly in second | Reuters
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Old 08-28-2014, 07:54 AM   #2
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The U.S. economy rebounded more strongly than initially thought in the second quarter with more of the growth being driven by domestic demand and less by restocking by businesses.

Gross domestic product expanded at a 4.2 percent annual rate instead of the previously reported 4.0 percent pace, the Commerce Department said on Thursday, reflecting upward revisions to business spending and exports.

It was the fastest pace since the third quarter of 2013.

A separate report from the Labor Department showed the number of Americans filing new applications for jobless benefits slipped 1,000 to a seasonally adjusted 298,000 last week. It was the second week of consecutive declines in initial claims and underscored the strengthening labor market fundamentals.

The dollar extended gains against a basket of currencies on the data, while prices for U.S. Treasury debt fell slightly.
Even better than first reported . .

U.S. second-quarter growth strengthens | Reuters
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