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The Commerce Department says the U.S. economy expanded at its fastest rate in more than two years. From April through June, the economy grew at a rate of 4.6 percent. That is good news. During the first three months of the year, the country’s economy shrank by more than two percent. Some economists say the second quarter growth is a sign that the U.S. economy is finally improving. Others are not so sure. A severe winter is blamed for hurting businesses and keeping Americans away from shopping centers early in the year. The sharp increase in economic activity from April to June was welcome. But financial expert Greg McBride of Bankrate.com says it is only three months of growth. He spoke with VOA on Skype. Investors on Wall Street, however, have had confidence in the economy. The recent growth numbers pushed stock prices higher. The S & P 500 Index, an important stock market measure, has reached close to 2000 points in recent weeks. That is not far from its record high of 2,011 points. David Stockton is an expert with the Peterson Institute for International Economics. He says economic conditions are improving as businesses increase investment spending. The Bureau of Economic Analysis, or BEA, said business spending and exports caused the increase in growth. That also could help the job market. The national unemployment rate is currently 6.1 percent. Yet, wages have remained mostly unchanged although there has been some job growth in the past year.
