THE ECONOMY: Pulse Beats

Boom notes of the week:

¶ The U.S.'s gross national product, total of all goods and services, reached a record annual rate of $372.4 billion for the second quarter, up $9.6 billion from the first quarter. Spending for personal consumption also rose, from $227.7 billion to $230.4 billion.

¶ Personal income for all Americans in June hit a new record, an annual rate of $286 billion, up $15 billion in a year.

¶ Employment in early July reached 63,120,000, a record for the month (but about 50,000 under the June figure).

¶ Commerce Department officials were reported ready to revamp their...

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