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The Obama Boom: Growth accelerates at a brisk pace to 1.7%!

by Phantom Ace ( 3 Comments › )
Filed under Economy, Headlines at July 31st, 2013 - 11:55 am

I can’t believe what this article is stating. It claims that 1.7% GDP growth in the 2nd quarter is a  brisk pace!

US expands at brisk pace in 2nd quarter, defying gloom

U.S. economic growth unexpectedly accelerated in the second quarter, laying a firmer foundation for the rest of the year that could bring the Federal Reserve a step closer to cutting back its monetary stimulus.

Gross domestic product grew at a 1.7 percent annual rate, the Commerce Department said on Wednesday, stepping up from the first-quarter’s downwardly revised 1.1 percent expansion pace.

Economists polled by Reuters had forecast the economy growing at a 1.0 percent pace after a previously reported 1.8 percent advance in the first three months of the year.

This is pure propaganda.

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