Teaching macro: U.S. Economy Grew at 4% Rate in Second Quarter

The United States economy rebounded heartily in the spring after a dismal winter, the Commerce Department reported on Wednesday, growing at an annual rate of 4 percent from April through June and surpassing economists’ expecations.In its initial estimate for the second quarter, the government cited a major advance in inventories for private businesses, higher government spending at the state and local level and personal consumption spending as chief contributors to growth. Economists, who had been hoping for a full reversal of the first quarter’s decline, were cheered by the second quarter’s numbers. The consensus forecast for G.D.P. was 3 percent.

via U.S. Economy Grew at 4% Rate in Second Quarter, Beating Expectations – NYTimes.com.

About mkevane

Economist at Santa Clara University and Director of Friends of African Village Libraries.
This entry was posted in Teaching macroeconomics. Bookmark the permalink.