U.S. ECONOMY BOUNCES BACK IN A BIG WAY
Republicans keeps saying the economy is not moving forward, or President Obama hasn’t done a damn thing since he’s been elected from the first term. Wells, here’s some info you might want to consider in digesting for those who thinks he’s wasting Taxpayers dollars like the other party; (GOP) Republicans
By any measure, the U.S. economy was unusually weak in the first quarter of the year (January through March), though most in the economic, financial, and political sectors were untroubled by the data. Indeed, for most, the winter drop was something of a fluke, caused by unusually harsh weather and an unexpected drop in health spending.
The U.S. economy grew by a 4% annual pace in the second quarter, bouncing back from a revised 2.1% decline in the first three months of the year, according to a preliminary government estimate. Economists polled by Market Watch predicted GDP would grow by a seasonally adjusted 3.2%. Consumer spending, the main source of economic activity, accelerated to show a solid 2.5% gain after a meager 1.2% rise in the first quarter. […]Also adding to U.S. growth was a pickup in construction spending, increased business investment, a bigger buildup in inventories and slightly higher government spending, the Commerce Department said Wednesday.