Wednesday, July 30, 2014
U.S. Economy - "Animal Spirits" Poking Out
Investment in consumer spending and rebuilding inventory overcame the growth in imports to show a 4 percent annualized real growth in U.S. GDP in the second quarter ("advance" estimate).
The growth was significantly above expectations of a 3 percent increase.
This growth occurred even after a revision of the first-quarter estimate that reduced the decline in from an annualized rate of 2.9 percent to 2.1 percent.
I write about economics in its interaction with politics and history. Special interests include symbols of community – such as coats of arms and flags – and the behavior of families and communities during a crisis.