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July 31st, 2013 
Peter Nolan
1 hour ago
The U.S. economy isn’t as feeble as economists thought it was.
Gross domestic product expanded at a 1.7 percent annualized rate in the second quarter, the government reported Wednesday. That’s up from the 1.1 percent rate in the first quarter (revised downward from 1.8 percent) and much higher than forecasts of a 1.0 percent rise.
A rebound in business spending, export growth and a sharp moderation in the pace of decline in government outlays boosted economic growth in the April-June period, offsetting a slowdown in consumer spending and a steady rate of inventory accumulation.
Still, the report marked a third straight quarter of GDP growth below 2 percent, a pace that normally would be too soft to bring down unemployment. But growth was poised to gain even more momentum in the second half of the year as the fiscal burden brought on by belt-tightening in Washington eases.
Reuters contributed to this report.
Source Article from http://www.nbcnews.com/business/us-economic-growth-pace-faster-expected-second-quarter-6C10803303?ocid=msnhp&pos=5
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