Economic growth in the United States has bounced back more than expected in the second quarter, but the data grossly overstates the economy’s health as declining imports accounted for the bulk of the improvement and domestic demand rose at its slowest pace in two and a half years.
The US economy grew by 3 percent at an annualised pace in the second quarter, according to Commerce Department released data on Wednesday, beating economists’ expectations after a contraction of 0.5 percent in the first quarter of the year.
