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GDP report shows resilience of U.S. economy: White House
WASHINGTON |
WASHINGTON (Reuters) - Stronger economic growth in the second quarter, 3.3 percent, showed the resilience of the U.S. economy but that no one is doing a "victory dance", the White House said on Thursday.
"This level of growth is demonstrating the resilience of our economy, even in the face of high energy prices and the housing market downturn," said White House spokeswoman Dana Perino.
Many analysts worry that exports and consumer spending, which have buoyed the economy, are likely to taper off in the second half of the year as spending from government stimulus checks dries up and weakening global growth and a stronger U.S. dollar crimp demand from abroad.
(Reporting by Jeremy Pelofsky, editing by Tom Hals)
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