Recession Spotters Frustrated Again As US Economy Outperforms

The US economy expanded at a much brisker pace than expected in Q2, according to the first estimate of GDP, released on Thursday. Growth ran at a 2.8% annualized rate last quarter, the BEA said. The collective "wisdom" of economists reckoned the headline at 2%. This is, of course, just the first of what'll eventually be three estimates, so take it with a grain of salt. But as things stand, markets and policymakers are staring at a meaningful re-acceleration versus Q1's pace. First quarter g