When the Commerce Department releases its first quarter gross domestic product estimate this morning, economists are expecting it will show the economy is on the rebound thanks in part to America's shoppers.
Wall Street economists surveyed by Thomson Reuters are estimating the economy grew at a 3.4 percent annual rate from January to March. That would be the third straight quarterly gain.
While consumers aren't spending with the abandon that's sparked past recoveries, they have begun to spend enough to keep the economy expanding.
And there are other signals that the U.S. economy has turned a corner. Employers are creating jobs again, with a net total of 162,000 jobs added in March. Manufacturers are boosting production. Consumer confidence is higher. And, first quarter earnings reports have shown a rising number of companies, from Ford and Whirlpool to UPS and Estee Lauder, are again turning a profit.
Copyright 2015 by The Associated Press. All Rights Reserved.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.