GDP

Four times a year, the U.S. Department of Commerce serves up the big number that tells us how much we are producing as a country. U.S. second quarter GDP grew more than economists had expected. That doesn't make it good.

The U.S. economy added less jobs than expected in May. At the same time, the number of workers filing for unemployment benefits rose, and the number of planned layoffs in hit an eight month high.

A study this morning from job outplacement firm Challenger Gray & Christmas found layoffs rose in May to their highest level in eight months.

The Federal Reserve won't be taking any major new steps to help the economy at this time, and the reason is that the Fed expects the U.S. economy to grow at about 3 percent this year.

The last three months in China were the worst for the country’s economic growth since 2009 -- 8.1 percent GDP, compared with 8.9 percent last quarter.

Imagine if the U.S. Economy grew at 8.1 percent a year instead of the 3 perecent we've been living with. But in China this means slower growth recorded in the first three months of the year.

The Department of Commerce revised its gross domestic product report for the last quarter of 2011, revealing more evidence that the U.S. economy could be entering a new phase of recovery.