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Searcey reports: "The United States economy rebounded in the spring after a dismal winter, the Commerce Department reported on Wednesday, growing at an annual rate of 4 percent for the three months from April through June."

The US economy is growing again. (photo: EPA)
The US economy is growing again. (photo: EPA)


US Economy Grew 4% in Second Quarter

By Dionne Searcey, The New York Times

30 July 14

 

he United States economy rebounded in the spring after a dismal winter, the Commerce Department reported on Wednesday, growing at an annual rate of 4 percent for the three months from April through June.

In its initial estimate for the second quarter, the government cited gains in personal consumption spending, exports and private inventory investment as the main contributors to growth. The increase exceeded economists’ expectations and further cemented their views that the decrease in America’s overall output during the first quarter was most likely a fluke tied in large part to unusually stormy winter weather as well as other anomalies. Any dip in gross domestic product outside of an official recession is considered rare.

During the first quarter, output shrank by 2.1 percent, less than had been reported, according to the Commerce Department’s newly revised G.D.P. figures, also released on Wednesday. The department had previously said first-quarter output decreased 2.9 percent.

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