ECON­OMY RE­BOUNDS IN SEC­OND QUAR­TER, UP 2.6%

USA TODAY Weekend Extra - - MONEY -

The econ­omy picked up in the sec­ond quar­ter af­ter a lack­lus­ter start to the year as solid con­sumer spend­ing more than off­set weak res­i­den­tial in­vest­ment and busi­ness stock­pil­ing. The na­tion’s gross do­mes­tic prod­uct — the value of all goods and ser­vices pro­duced in the U.S. — in­creased at a sea­son­ally ad­justed an­nual rate of 2.6%, the Com­merce Depart­ment said Fri­day, in line with economists’ es­ti­mates. The show­ing marked an im­prove­ment over the 1.2% growth pace recorded in the first quar­ter.

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