Fortunately Gross domestic product (GDP) grew at a 4 % annual rate in the second quarter of this year, far better than the 3.1% in the second quarter that analysts had initially forecast, according to a Commerce Department statement on Wednesday. "Some of the past quarter’s growth performance reflects a catch-up from the dismal first-quarter performance," said Gad Levanon, director of … [Read more...]
U.S. Economy Bouncing Back in the Second Quarter
Although the housing sector hasn't been experiencing the expected growths in prices, global U.S. economic growth is still accelerating at an accelerated rate. The second quarter has brought a decline in output over the last period that wasn't as steep as economists had expected it. The Commerce Department reported on Wednesday that gross domestic product had expanded at a 4% annual rate and … [Read more...]
US Economy Posts Dramatic Drop for 1st Quarter of 2014
The first quarter of 2014 saw the U.S. economy shrink by the largest margin since the peak of the global financial crisis. This contraction of the economy came against the backdrop of consumer spending receding after the holidays. The United States’ gross domestic product also posted a drop, down by 2.9 per cent at an annually adjusted rate. This drop is bigger than the one predicted by financial … [Read more...]
