New York (CNNMoney) — America’s economy picked up some momentum this spring and summer, but it didn’t wow.
It grew 2.3% between April and June compared to the same time a year ago, according to the Commerce Department’s first estimate of gross domestic product, the broadest measure of economic activity.
Many experts were predicting a stronger number in the 2.5% to 3% range. Instead, America got a good — but not great — sign that the economy got its act together after a shaky start to 2015.
The question coming into Thursday was whether the economy’s woeful performance between January and March was just due to cold weather or if there was a larger problem. Factors like a strong U.S. dollar — which can hurt trade — and a lack of consumer spending could hamper the economy for the entire year.
But those fears may be easing a bit. Americans actually picked up spending in the second quarter.