The U.S. economy grew faster than forecast during the second quarter driven by strong consumer spending and a rebound in corporate profits, both of which should continue to sustain economic growth. Gross Domestic Product increased at a revised rate as reported by the Commerce Department's Bureau of Economic Analysis. That was an upward revision from what was initially reported last month. Consumer spending increased which helped offset the deceleration in business investment, exports and private inventory investment. Spending is partly supported by wage gains, but momentum is slowing as the labor market shifts into lower gear.
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Robert G. Gilliland, CRPC®Managing Director and Senior Wealth Advisor
Robert’s career has been a blend of high personal performance and team building. He earned a Bachelor’s degree in Finance from Stephen F. Austin State University. To pay for his schooling, he ran a franchise of restaurants, gaining experience in managing time, people and money that would serve him well in his later endeavors. After […]
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