GDP set to rebound from early-year freeze

July 30, 2015 6:57 AM

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As economic bounce-backs go, roaring back from the first-quarter deep freeze, when the economy contracted 0.2%, the first estimate on second-quarter growth set for release Thursday should help put fears to rest. It indeed looks like should go a long way toward putting to rest fears that" the early-year slowdown was nothinganything" more than a pause caused by bad weather, bad weather-induced pause exacerbated by" fallout from a West Coast port strike and a super-strong U.S. dollar.

The median estimate of economists is for growth of 2.5%, Capital Economics says. That's not quite the 3% pace economists had hoped for heading into the year, but robust enough to put the early-year slump in the rear-view mirror.

Also read: China Fends Off Trade Trouble With 6.8% Growth

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