U.S. Economic Growth Improves Over First Quarter
http://www.washingtonpost.com/wp-dyn/content/article/2008/07/31/AR2008073100669.html?hpid=topnews"The U.S. economy grew at a healthy pace in the second quarter, the government said today, despite being buffeted by a financial crisis, a deep housing slump, high fuel prices and a weak job market.
Gross domestic product rose at a 1.9 percent inflation-adjusted annual rate in the April through June period, far above what forecasters would have expected just a few months ago. It was boosted by strong exports resulting from the lower value of the dollar and rising consumer spending by Americans, who benefited from government stimulus checks. "
G.D.P. Grows at Tepid 1.9% Pace Despite Stimulus
http://www.nytimes.com/2008/08/01/business/01econ.html?hp"The economy grew less than expected from April to June, the government said on Thursday, and it shrank in the final months of 2007, dimming the outlook for a quick recovery.
Gross domestic product expanded at an annual rate of 1.9 percent in the second quarter, the Commerce Department reported, primarily because of a surge in export sales powered by the weak dollar. The government’s tax stimulus package pushed consumer spending higher, but the ongoing pain in the housing market took a sharp toll on overall growth.
But that figure was below the estimate of many economists, who had expected growth of 2.3 percent, and it cast doubt on whether the stimulus package would be able to prop up the economy in the months ahead."
Hmmmmmmmmmmm.............