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Economy rebounds strongly in 2nd quarter, expands at 4% annual rate
Economy rebounds strongly in 2nd quarter, expands at 4% annual rate

The U.S. economy rebounded strongly in the second quarter after a winter contraction, expanding at a 4% annual rate, the Commerce Department said Wednesday. Analysts had projected the nation's total economic output, or gross domestic product, to expand at a 3.1% in the second quarter. But the economy performed better than expected, with growth in the April-May period the best since the third quarter of last year. "Some of the past quarter’s growth performance reflects a catch-up from the dismal first-quarter performance," said Gad Levanon, director of macroeconomic and labor market research at the Conference Board. "But this stellar growth figure also suggests...

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