The GDP report: An alternative take

Some showed a “positive spirit”: From CNBC: Growth last quarter was the quickest since the first quarter of 2015 and followed a 1.2 percent pace in the January-March period. Economists had expected that the second-quarter GDP growth rate would be unrevised at 3.0 percent. With GDP accelerating in the second quarter, the economy grew 2.1 percent in the first half of 2017. Still, economists believe growth this year will not breach President Donald Trump’s ambitious 3.0 percent target. The fact is that the economy has been in the doldrums for the past 11 years. The “ambitious” 3% growth was the…

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