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5 TAKEAWAYS FROM WEDNESDAY’S GDP REPORT

Economic output rebounded during the second quarter, advancing at a 4% rate, and the large decline during the first quarter was revised down slightly, to a 2.1% decline from a 2.9% drop, according to estimates published by the Commerce Department on Wednesday.

Here are five quick takeaways from the report on gross domestic product, the broadest measure of goods and services produced across the economy:

1. WINTER REBOUND

2. HOUSING’S HIATUS

3. REVISIONS REDUX

4. THE FED’S FOCUS

5. THE STATES BRIGHTEN

http://blogs.wsj.com/briefly/2014/07/30/5-takeaways-from-wed... report/