Economic Expansion Gains Momentum
According to recent data, the economy has shifted into higher gear, with the most comprehensive indicator of economic growth – real Gross Domestic Product (GDP) – surging to an annualized rate of 3.0 percent in the second quarter. While quarterly figures can be prone to fluctuations, a more reliable gauge of economic performance is the four-quarter growth rate, which provides a clearer picture of the economy’s underlying trends.
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