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US economy expands at an annual 2.3% in 2Q; strong consumer spending

Friday, July 31st 2015 - 05:59 UTC
Full article 5 comments

The US economy grew at an annualized pace of 2.3% in the three months to June, official figures have shown. The figure - the first estimate of growth in the second quarter - followed an upwardly revised growth rate of 0.6% in the first three months of the year. The Commerce Department said growth was boosted by increased consumer spending and cheaper fuel prices. Read full article


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  • Troy Tempest

    Gosh... where is “we are Chavez” Stevie, and “Maduro is our Hermano”, Brassiero??

    Jul 31st, 2015 - 09:03 pm - Link - Report abuse 0
  • yankeeboy

    Analysts think that this is a 5-10yr upswing on the U$. They are saying Euro at .75/1 in 2 years.
    That doesn't bode well for China or any other emerging nation.

    I think when China collapses and people analyze the last decade they'll find that they were the worst purchaser of assets ever seen. They bought stuff nobody wanted and then overpaid. When they start to liquidate, and they will, someone's going to get some very good deals.

    For example they're sitting on massive amounts of oil that they paid U80 for and its going into the 20s in the next few years, you can put in any commodity in place of oil.

    Aug 01st, 2015 - 01:16 pm - Link - Report abuse 0
  • Captain Poppy

    Not to change here, does anyone know what the interest rates are on the “so called” vulture bonds that that refer to as usury? I think the RG's do not understand the time value of money.

    Aug 02nd, 2015 - 03:24 pm - Link - Report abuse 0
  • Paragon

    We have an economic recovery, allegedly, one ongoing since June, 2009. Tell that to the millions of “discouraged workers” who have been unable to find a job, have given up looking for nonexistent jobs, and are not counted as among the unemployed as measured by the fake 5.3% rate of unemployment.
    The stock market, not too far below its highs, is used as evidence of recovery. However, the stock market is supported by companies buying back their own shares and by the liquidity that the Federal Reserve has poured into the financial system. Dan Strumpet reported in the Wall Street Journal that a mere six companies account for more than all of the gain in market-capitalization in the S&P 500. How’s that? We have a recovery in which a mere six companies participate—Amazon, Google, Apple, Facebook, Gilead, and Walt Disney Company.
    Sounds like a rip-roaring recovery.
    In the second quarter of this year the US economy contracted by 1.4%. Second quarter durable goods orders, minus commercial aircraft orders which are placed years ahead and do not reflect the state of the present economy, are in annual decline. Second quarter new home sales fell 7.3%. And Wall Street still hypes hope and recovery.

    Aug 02nd, 2015 - 05:59 pm - Link - Report abuse 0
  • yankeeboy

    4. You can blame over regulation, increased taxes and welfare payments to lazy bums for our slow recovery.
    Most of my friends, most companies and I are sitting on cash until Odumbo is gone.
    I hope for a Repub Prez so they have all 3 houses and can undo all the crap Odumbo has inflicted on the USA quickly.
    That will get our economy rip roaring.

    Aug 03rd, 2015 - 11:07 am - Link - Report abuse 0

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