According to the US Commerce Department, a 3.3 percent growth was noted in the US economy during the second quarter and it was much higher than the expected 1.9% growth.
This growth is being considered a result of strong exports, weaker dollar and tax rebates that help to boost consumer spending.
During the first quarter, GDP grew at a rate of 0.9 percent and a 0.2 percent contraction was noted during the last three months of 2007.
However, it has been warned by the Federal Reserve that economy will be weak in this year.
“We are beginning to see some sunlight, but we are not out of woods yet,” stated John Wilson, who is equity strategist at Morgan Keegan.
