U.S. Economy Bounces Back After Dismal Winter

Washington Post: After a dismal winter showing a 2.1 percent annualized drop in economic activity, “the U.S. economy sprang back to life in the April-June quarter, growing at a fast 4 percent annual rate on the strength of higher consumer and business spending.”

“Last quarter’s bounce-back was broad-based, with consumers, businesses, the housing industry and state and local governments all combining to fuel growth. The robust expansion will reinforce analysts’ view that the economy’s momentum is extending into the second half of the year, when they forecast an annual growth rate of around 3 percent.”

Paul Ashworth, chief U.S. economist at Capital Economics, “is among a group of economists who think growing strength in the job market and the overall economy will prod the Fed to move faster to raise rates to make sure inflation doesn’t get out of hand.”


Chart from Fox Business

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  • Lorehead

    Thatˆs good news, although as always, wait for the revisions.

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