 Economic data released in the past six weeks suggest that the U.S. economic growth was moderately strong at the beginning of the third quarter. A large upward revision to second-quarter real gross domestic product (GDP) coupled with several reports on July economic activity implied that the economy started the third quarter with a good deal of momentum. As a result, the U.S. economy seems strong enough to sustain an economic expansion despite drags from recent Chinese economic developments, softness in global economic growth and year-to-date strength in the dollar. Read more...
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