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The American economy grew at a 6.5% annualized rate in the second quarter, a headline number that disappointed many and fell below economists’ expectations of 8.5% growth in April, May, and June.

Even with that disappointment, real GDP surpassed its previous high from before the pandemic struck, in the final quarter of 2019, and it’s still the fastest quarterly growth rate in the last 18 years, except for the massive rebound last summer after the initial pandemic-driven economic collapse in the spring.

Looking at the details from the GDP report released Thursday morning underscores how details ⇒

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