GDP Report Offers Clearer Picture of Economic Growth

July 30, 2015 3:40 PM

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GDP Report Offers Clearer Picture of Economic Growth

The big U.S. economic picture is starting to look a lot better despite a first half that generated an array of all-over-the map data, not least a first-quarter GDP report that showed the economy had shrunk during the first three months of the year.

The Commerce Department on Thursday released its first estimate of second quarter GDP and it wasn’t bad: 2.3% growth, just short of analysts’ estimates of 2.6% and a decent rebound from the soft first quarter. A healthy jump in consumer spending was cited as an important catalyst.

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