July 27, 2007
Economy Going Up

Weer In Ur Stores, Buyin' all ur warez:

The US economy grew last quarter at the fastest pace in more than a year as rising exports helped offset a slowdown in consumer spending.

Gross domestic product expanded at an annual rate of 3.4 per cent in the second quarter, well above the anaemic growth of 0.6 per cent in the first quarter, according to the Commerce Department.

The surprisingly strong economic rebound showed business activity took over from household spending as the driver of growth in the period. Factories increased output to meet demand from Europe and Asia for US imports.

The primary advantage of a diverse and growing economy is that when one sector falters, there are several others which can suddenly take its place. Remember all those guys who predicted doom at the fall of the US dollar? Yeah, not so much now, eh?

Posted by scott at July 27, 2007 11:48 AM

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