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Growth weaker than hoped, sez AP
 | Read and learn as the AP spins. |
WASHINGTON (AP) -- The country didn't get the energetic rebound in economic growth hoped for from the government's tax rebates in the second quarter, ...
| Other than the 1.9% growth in GDP, which with a troubled housing market, auto market and election jitters seems pretty darned good. |
... and the economy jolted into reverse at the end of 2007, raising new recession fears.
| Except that the new growth eases recession fears. |
The Commerce Department reported Thursday that gross domestic product, or GDP, increased at an annual rate of 1.9 percent in the April-to-June period. That marked an improvement over the feeble 0.9 percent growth logged in the first quarter of this year and the outright contraction in the economy during the final quarter of last year.
Still, the second-quarter rebound wasn't as robust as economists had hoped; they were forecasting growth at a 2.4 percent pace.
Posted by: Steve White 2008-07-31 |
