The US economy roared ahead in the second quarter with annualised growth of 4 per cent, confirming that weakness early this year was an aberration and the recovery is back on track.
Growth easily beat expectations of 3.1 per cent, with the strength of the rebound demonstrating that the world’s largest economy is picking up speed and robust jobs data in recent months were not a fluke.
The gross domestic product data suggest the economy has enough momentum to keep bringing down unemployment, adding fuel to the debate at the US Federal Reserve about when interest rates need to rise.
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