Pursuits
Economic Takeaways of Pickup in U.S. GDP, Drop in Jobless Claims
- GDP shows bigger contributions from all four major components
- Consumers bolstered by improving labor and housing markets
This article is for subscribers only.
What you need to know about Thursday’s economic data:
The Takeaway: The broad-based nature of the revision shows the economy rebounded strongly from a first-quarter slowdown caused by bad weather, the labor dispute at West Coast ports and the plunge in energy-industry investment. The record surge in stockpiles indicates growth will probably cool this quarter as inventories are drawn down. The discrepancy between the increase in GDI and GDP signals the strength in growth may be overstated.