US economic growth continues to rebound after a soft patch in the first half of the year. Supported by stronger job growth in June and July, the firmer trend in the actual data follows projections published by The US Business Cycle Risk Report and The Capital Spectator in previous months for a revival in the pace of the expansion (see the bottom charts here and here, for example). The recovery is expected to strengthen in the months ahead, as summarized in today’s update, as shown in the last chart at the bottom of this post.
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