Thread: Economy rebounds in 2Q
#1 Economy rebounds in 2Q08-28-2008, 12:50 PM
Economy rebounds in 2Q, mostly spurred by exports
By JEANNINE AVERSA, AP Economics Writer 32 minutes ago
WASHINGTON - The economy shifted to a higher gear in the spring, growing at its fastest pace in nearly a year as foreign buyers snapped up U.S. exports and tax rebates spurred shoppers at home.
The Commerce Department reported Thursday that gross domestic product, or GDP, increased at a 3.3 percent annual rate in the April-June quarter. The revised reading was much better than the government's initial estimate of a 1.9 percent pace and exceeded economists' expectations for a 2.7 percent growth rate.This is bigger than presidential politics. This is a battle for America.
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