The Outlook Brightens

TIME'S Board of Economists sees lower inflation and continued growth

There were a few refreshing signs of an economic spring last week, with even a soft summer breeze to be felt here and there. The Commerce Department revised its figure for the growth of the economy during the first quarter from a strong annual rate of 6.5% to an almost heady one of 8.4%. That was the highest level of economic expansion in more than two years. The Commerce Department also announced that housing starts for April rose 4.2% to a seasonally adjusted annual rate...

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