By SIMON CONSTABLE
If you are confused over the economy, then you likely aren't the only one.
In late August we got two pieces of seemingly contradictory economic news. One was weak and the other pointed to strength. Here's what they both mean, and why the economy is actually picking up.
On the one hand, the government trimmed its estimate of second GDP quarter growth to a paltry 1.1 percent, according to the latest data. That's weak by any standard and because it was the period from April through June, it was also hard to blame the winter weather, which itself has become something of an annual excuse lately.
On the other hand, the Federal Reserve has indicated it is moving closer to that point where it may raise the cost of borrowing money. Why? Because the economy is showing strength.
So which is it, strong or weak? Read more here.
