The economy contracted but according to government data it contracted less than anticipated.
As I post this, markets are up.
CNN: Economy: The pain is starting to ease
The pace of economic decline slowed substantially in the second quarter, as the U.S. economy shrank at an annual rate of 1%...
Economists surveyed on Briefing.com expected the second-quarter reading to show the economy contracted at an annual rate of 1.5%.
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