The US economy is bouncing back this quarter to a growth rate above its long-term potential. This result is due to the recovery from a severe winter and the release of pent up demand.
Document Highlights
US economic growth barely expanded in the first quarter of the year, but it is expected to accelerate and possibly even exceed its long-term growth potential. The solid momentum in consumer spending has been supported by job and sentiment gains. The housing market is still the main risk but even that market is warming up, especially in terms of apartment construction.
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