US economy posts solid 2.3 percent growth rate in Q2 - WAOW - Newsline 9, Wausau News, Weather, Sports

US economy posts solid 2.3 percent growth rate in Q2

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  WASHINGTON (AP) -- After a harsh winter, the U.S. economy posted a solid rebound in the April-June quarter, led by a surge in consumer spending and a recovery in foreign trade.
  
The Commerce Department says the gross domestic product, the economy's total output of goods and services, expanded at a 2.3 percent annual rate in the second quarter, up from a 0.6 percent first quarter increase. The first quarter figure was revised from a previous estimate of a 0.2 percent decline.
  
The healthy spring rebound reflected a big jump in consumer spending and a swing in trade from a significant drag to a small positive for growth.
  
Economists are looking for growth to strengthen more in the second half of this year, as consumer spending is bolstered by sizable employment gains.
 

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