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U.S. Economic Growth Rebounds, But Breaking Out Is Hard to Do

  • First-half average, final demand show steady pace of expansion
  • Policy changes seen as needed to reach Trump’s 3% growth goal
Bloomberg business news

U.S. 2Q GDP Rises 2.6%, 1Q Revised Lower to 1.2%

The U.S. economy’s second-quarter rebound puts the expansion back on its familiar, steady path more than it heralds anything new and exciting.

Gross domestic product grew at a 1.9 percent annual pace for the first half, below the expansion’s 2.2 percent average rate through the end of 2016, Commerce Department figures showed Friday in Washington. Stripping out trade and inventories -- the two most volatile components of the GDP calculation -- so-called final sales to domestic purchasers rose 2.4 percent in the April-to-June period, the same as in the first quarter.