Thursday, August 7, 2014

U.S. Economy Bounces Back Sharply

What a relief. The deep economic contraction earlier this year was temporary after all. New data released Wednesday show the U.S. economy bounced back in the spring, growing at a 4% annual pace in the second quarter. That was even better than the forecast of 3% growth, according to a consensus of economists surveyed by CNNMoney.
Consumer spending, which alone accounts for about two thirds of U.S. economic activity, strengthened, as did exports to foreign countries and business investments. American consumers spent more money on long-lasting goods like autos, appliances and furniture, while businesses invested more in technology and industrial equipment. Both can be seen as good signs that households and companies are more optimistic and investing in the future.
To read full article, click here.
Source:  Annalyn Kurtz

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