Reply #1: did you see the GDP revision?

[UpInArms]

http://cbs.marketwatch.com/news/story.asp?guid=%7B74E081CA%2DF1DC%2D4D43%2D8B49%2DFE134E64BE41%7D&siteid=mktw

GDP accelerates to 3.1% in Q2
Current production profits up 15.3% year-over-year

WASHINGTON (CBS.MW) - Growth in the U.S. economy accelerated to a 3.1 percent annual rate in the second quarter from a sluggish 1.4 percent in the first quarter, the Commerce Department said Thursday.

The second estimate of gross domestic product exceeded economists' consensus forecast of 2.9 percent and the government's previous 2.4 percent estimate.

It's the fastest growth in a year.

As in last month's first estimate, consumer spending on durable goods and defense spending accounted for most of the growth. Business investment, especially in equipment and software, was also a major contributor.

...more...

note: must be that "war" economy -