This_person
Well-Known Member
The U.S. economy has been growing faster than expected lately, helped by solid gains in personal spending and businesses building their inventories of goods to sell later. And growth could soon get a bump even higher due to hurricane reconstruction.
The Commerce Department on Thursday released its final tally of second-quarter growth in gross domestic product, which is the total value of all goods and services produced in the U.S. Analysts on Wall Street and in Washington often use GDP as the bottom-line measure of how the economy is doing overall.
GDP grew at 3.1 percent annualized pace in the second quarter, the fastest growth rate since early 2015. The growth rate was helped by a 3.3 percent gain in consumer spending, which comprises about two-thirds of the overall economy.
Yay us!