US: Economy Advanced 6.5% from April to June

WASHINGTON - The U.S. said Thursday that its economy, the world’s largest, advanced 6.5% in the April-to-June period, a slightly faster annualized pace than in the first three months of the year as the country steadily regains its footing from the economic devastation of the coronavirus.

The size of the U.S. economy – nearly $23 trillion – now exceeds its pre-pandemic level as it recovers faster than many economists had predicted during the worst of the business closings more than a year ago. The surging delta variant of the coronavirus is now threatening to impair business activity in some regions of the U.S. and, as a result, analysts say the economy could cool somewhat in coming months. But the second quarter growth was fueled with widespread business reopenings, vaccinations for millions of people and trillions of dollars in government pandemic aid that was sent to all but the wealthiest American families.