US economy posts solid 2.3 percent growth rate in Q2, helped by strong consumer spending



We also have more stories about:
(click the phrases to see a list)

Subjects:

 


WASHINGTON — After a harsh winter, the U.S. economy posted a solid rebound in the April-June quarter, led by a surge in consumer spending and a recovery in foreign trade.

The Commerce Department says the gross domestic product, the economy's total output of goods and services, expanded at a 2.3 percent annual rate in the second quarter, up from a 0.6 percent first quarter increase. The first quarter figure was revised from a previous estimate of a 0.2 percent decline.

The healthy spring rebound reflected a big jump in consumer spending and a swing in trade from a significant drag to a small positive for growth.

Economists are looking for growth to strengthen more in the second half of this year, as consumer spending is bolstered by sizable employment gains.

All content copyright ©2015 Daily Reporter, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.
Daily Reporter • 22 W. New Road • Greenfield, IN 46140 • (317) 462-5528