Economic Preview: Economy seen busting out with 4% GDP, but it won’t mean squat without an encore

Bloomberg News/Landov
Growth in the U.S. economy surged the spring like a Mississippi riverboat.

The economy hit the gas pedal in the spring and may have ripped off one of the fastest growth spurts since the U.S. exited the Great Recession nine years ago. Great news, all right, but it won’t mean much without a few encores.

Gross domestic product — the official yardstick for the economy — likely grew 4% in the second quarter, economists polled by MarketWatch say. Such an increase would double up on the 2% gain in the first three months of 2018.

The spring bloom could be even brighter. The Atlanta Federal Reserve’s GDPNow forecast pegs growth at 4.5% and some Wall Street firms such as Macroeconomic Advisers estimate 5% GDP.

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