New estimate fuels expectations Federal Reserve will raise interest rates in 2015The US economy grew faster than previously thought in the moment quarter of the year,according to new figures that believe fanned expectations that the Federal Reserve will raise interest rates before the end of 2015.
Government data suggested the world’s biggest economy grew at an annual pace of 3.9% between April and June, exceeding economists’ expectations for the GDP estimate to stay unchanged at 3.7%. It marked an even stronger bounceback from the sluggish 0.6% growth recorded in the opening months of 2015 when an particularly harsh winter hit economic activity.
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Source: theguardian.com