The U.S. economy continues to withstand offshore winds of negativity as its total output holds to its slow growth path.
Government data for the second quarter show an increase in Gross Domestic Product of 1.1 percent for the April-June quarter, up from 0.8 percent in the first quarter. The figure was off slightly from the earlier estimate of 1.2 percent for the second quarter.
Total income rose marginally, 0.2 percent, and largely contributed to an increase in expenditures and an increase in exports, government figure showed.
As noted here Wednesday, home sales are at a nine year high, the international trade deficit is declining, inflation is steady, unemployment is below and job growth has increased for 70 months straight.
So unless a worldwide economic storm hits, the U.S. economy is not likely to sink on its own. Whether it can hold up the rest of the world is another question.
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