U.S. Economy Doing Better In Second Quarter

There are hopeful signs for the economic outlook. As exports grew more than imports and businesses raised their investments, U.S. economic growth was less sluggish than previously thought in the second quarter. The Commerce Department said on Thursday in its third estimate gross domestic product expanded at a 1.4 percent annual rate. That was up from the 1.1 percent rate it reported last month and higher than analysts' expectations. The slump, fueled by a sharp drop in oil prices that hit America's energy industry, has worried policymakers at the Federal Reserve because less investment could hurt economic growth over the longer term. Federal Reserve Chair Janet Yellen repeated on Wednesday that Fed policymakers expect to raise interest rates by the end of the year because they worry that gathering steam in the U.S. labor market could fuel inflation. http://feeds.reuters.com/~r/reuters/topNews/~3/ksqdfbS4r6o/us-us-economy-gdp-idUSKCN11Z1LT http://www.wochit.com This video was produced by YT Wochit News using http://wochit.com