The Daily Brief — Thursday, August 28, 2008
August 28, 2008 by Patrick Henry · Leave a Comment
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Economy rebounds at better-than-expected pace in the spring, mostly spurred by exports
Associated Press · Jeannine Aversa
The economy shifted to a higher gear in the spring, growing at its fastest pace in nearly a year as foreign buyers snapped up U.S. exports and tax rebates spurred shoppers at home. The Commerce Department reported Thursday that gross domestic product, or GDP, increased at a 3.3 percent annual rate in the April-June quarter. The revised reading was much better than the government’s initial estimate of a 1.9 percent pace and exceeded economists’ expectations for a 2.7 percent growth rate… more»
It’s the economy, stupid? –PH
