Gdp Report Is Likely To Show Recession Eased In 2q

GDP report is likely to show recession eased in 2Q

WASHINGTON — The recession likely eased in the spring, with the U.S. economy no longer in free-fall. Many analysts predict that when the Commerce Department releases its first estimate of second-quarter activity Friday, it will say the economy shrank at a 1.5 percent pace from April though June. If they are correct, it would mark a vast improvement from the 5.9 percent annualized drop recorded over the prior six months – the weakest showing in 50 years. "The recession kind of came in like a lion and is going out like a lamb," said economist Ken Mayland of ClearView Economics. Less drastic spending cuts by businesses, a resumption of spending by the federal government and an improved trade picture factor into expectations for a better performance.

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Topics:  commerce department   economy   gdp   good news   recession   
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