Economy bounces back: GDP grows 2.3% in second quarter

July 30, 2015 3:51 PM

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The U.S. economy bounced back in the second quarter on stronger consumer spending, exports and home construction, and its performance in the first quarter wasn't as feeble as initially believed.

Gross domestic product — the value of goods and services produced in the U.S. — expanded at a seasonally adjusted annual rate of 2.3% in the April-June period, the Commerce Department said Wednesday. Economists surveyed by Bloomberg expected 2.5% growth.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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