Submitted by CARPE DIEM

WASHINGTON — The U.S. economy doubled its speed in the spring, driven by higher exports, falling imports, and rising spending by consumers given tax rebates meant to neutralize the housing slump. Gross domestic product rose at a seasonally adjusted 1.9% annual rate April through June, the Commerce Department said Thursday in the first estimate of second-quarter GDP (see chart above, recessions shaded).

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