The Dow vaulted back over 13,000 while Gross Domestic Product just treads water in the shallow end of the pool. What can we take away from the latest economic data?
Four times a year, the U.S. Department of Commerce serves up the big number that tells us how much we are producing as a country. U.S. second quarter GDP grew more than economists had expected. That doesn't make it good.
The Commerce Department announced Gross Domestic Product ticked up 1.5 percent in the second quarter. That's down from a growth rate of 2 percent in the first part of the year.
The Commerce Department just announced Gross Domestic Product ticked up 1.5 percent in the second quarter — that down from a growth rate of 2 percent in the first part of the year.
The U.S. economy added less jobs than expected in May. At the same time, the number of workers filing for unemployment benefits rose, and the number of planned layoffs in hit an eight month high.
The Federal Reserve won't be taking any major new steps to help the economy at this time, and the reason is that the Fed expects the U.S. economy to grow at about 3 percent this year.
