Although this article in Yahoo! Finance somehow puts a negative spin on it, the unexpectedly large economic growth April-June is nothing but good news.
The United States needs as much economic strength as it can muster to weather the U.S. banking industry train wreck… slow motion train wreck.
Gross domestic product, or GDP, grew at a 3.3 percent annual rate in the April-June quarter, its fastest pace in nearly a year, the Commerce Department reported Thursday. 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.