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...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!