US Economy Growing Faster Than We Thought

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This is welcome news:

The U.S. economy expanded at a brisker pace than initially thought in the second quarter as businesses ramped up spending, a hopeful sign for an economy that has been repeatedly buffeted by bad weather, domestic political standoffs and overseas turmoil.

Gross domestic product, the broadest sum of goods and services produced across the economy, expanded at a 3.7% seasonally adjusted annual rate in the second quarter of 2015, the Commerce Department said Thursday, up from the initial estimate of 2.3% growth.

Average growth in the entire first half of the year was still fairly sluggish, thanks to a miserable first quarter, but today’s news might be evidence of some decent acceleration in the economy. Given all the bad news of the past month or so, this comes as a bit of a relief.

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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