US ECONOMY SHOWS UNEXPECTEDLY STRONG GROWTH

The US economy expanded at an annual rate of 2.7 percent in the spring, significantly faster than previously believed, the government said Aug. 29, further dispelling recession concerns. The Commerce Department said the increase in the gross national product, the broadest measure of economic health, was a full percentage point higher than its first estimate a month ago, which forecast the poorest performance in three years.

The White House was sure to welcome the upward revision since more robust economic growth makes it easier to meet the administration's deficit-reduction goals.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK