WASHINGTON — The U.S. economy posted a solid rebound in the April-June quarter after a harsh winter, led by a surge in consumer spending and a recovery in foreign trade that bode well for the rest of the year.
It also ended up squeezing out some growth in the first quarter, reversing an earlier estimate that the economy shrank at the start of the year.
The Commerce Department said Thursday that the gross domestic product, the economy's total output of goods and services, grew at a 2.3 percent annual rate in the second quarter. The government also said GDP in the January-March period grew 0.6 percent instead of shrinking at a 0.2 percent pace.
Read Friday's Arkansas Democrat-Gazette for full details.