NYT: The nation’s economic output rose at a 3.5% annual rate.
NYT: The nation’s economic output rose at a 3.5% annual rate.
The higher-than-expected bump in gross domestic product — a measure of all the goods and services produced — was driven in part by an unusual spurt of federal spending, concentrated in defense, and private investment outside the housing sector.
Consumer spending, though up 1.8 percent, was weaker than some economists had hoped, given recent job growth and money saved from falling gas prices.
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