US economy surged at 3.7 percent rate in April-June quarter

  • 2/5/2023
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WASHINGTON, Dhu-AlQa'dah 13, 1436, August 28, 2015, SPA -- The U.S. economy posted a much bigger rebound in growth during the spring than previously reported, thanks to improvements in a number of areas including consumer spending and business investment. The Commerce Department says the economy expanded at an annual rate of 3.7 percent in the April-June quarter, more than a percentage point greater than the 2.3 percent originally estimated. It was the strongest growth since last summer and marked a sharp improvement from the anemic 0.6 percent advance during the January-March quarter when a harsh winter sapped activity. Analysts believe growth has slowed a bit in the current quarter to around 2.5 percent. Some have expressed concern that shrinking global stock markets and a sharp slowdown in China will further weaken the economy in coming months. --SPA 11:26 LOCAL TIME 08:26 GMT www.spa.gov.sa/w

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