« Glass Houses | Main | Hurricane Gustav »
August 28, 2008
Economy shifted to higher gear in the spring
GDP revision shows economy growing at fastest pace in nearly year
Shhhhh. Don't tell the Democrats:
WASHINGTON - 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.
Posted by Rob Kiser on August 28, 2008 at 9:49 AM
Comments