Tuesday, August 12, 2014
Bouncing Back, Economy Grew 4% for Quarter
The Commerce Department, in its initial estimate for April, May and June, reported on Wednesday that the economy grew at a seasonally adjusted annual rate of 4 percent, surpassing expectations.
During the first quarter, output shrank at a rate of 2.1 percent, less than had been reported. The department had earlier said that first-quarter output fell 2.9 percent.
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Source: Dionne Searcey (www.nytimes.com)
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