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The U.S. Economy Had A Strong Second Quarter


The U.S. economy saw consumers step up their spending and businesses restock, bringing one step closer to closing out the year solid. GPD grew at a 4% annual rate after shrinking 2.1% in the first quarter, according to the Commerce Department. The growth seen in the second quarter was greater than the 3% economists were expecting. Michelle Meyer, a senior economist at Bank of America Merrill Lynch said, “Today’s report shows greater near term healing and momentum, reducing the downside risks and leaving us comfortable with our forecast for above 3.0 percent growth through next year.”