The Economy Just Grew Much Faster Than It Was Expected To

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The Economy Just Grew Much Faster Than It Was Expected To

By Lucia Mutikani at the Huffington Post

http://www.huffingtonpost.com/2014/07/30/economic-growth-gdp-q2_n_5633400.html

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WASHINGTON, July 30 (Reuters) - U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior period was less steep than previously reported, which could bolster views for a stronger performance in the last six months of the year.

Gross domestic product expanded at a 4.0 percent annual rate as activity picked up broadly after shrinking at a revised 2.1 percent pace in the first quarter, the Commerce Department said on Wednesday.

That pushed GDP above the economy's potential growth trend, which analysts put somewhere between a 2 percent and 2.5 percent pace. Economists polled by Reuters had forecast the economy growing at a 3.0 percent rate in the second quarter after a previously reported 2.9 percent contraction.

The economy grew 0.9 percent in the first half of this year and growth for 2014 as a whole could average above 2 percent. The first quarter contraction, which was mostly weather-related, was the largest in five years.




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[blkmusclmachine]

2. Well, the Republicans will put a stop to THAT nonsense by the gay Kenyan socialist usurper.