The Bureau of Economic Analysis measure of Economic growth in the US, better known as GDP was released this am at a reading of -1%.
While any negative reading means contraction in our economy, this reading was far better than expectations and much better than the prior negative reading of -5.5%. The US economy continues to gain it’s footing, and while not off to the races by any means, is getting better.
Advanced readings are very much rough estimates and will be revised in the future, but for headline/immediate review purposes, this is another sign of recovery.
Many signs are now pointing to the fact that the economy is getting better. Much of the time expectations turn to reality, a discussion for another time, but suffice it to say this is another barometer for the US that the economic situation continues to improve.
Stay patient, and enjoy your summer! JK