Sunday August 2, 02:37 PM
US economic growth 'likely to resume in 2nd half'
NEW YORK (AFP) - White House economic adviser Larry Summers said Sunday US economic growth is highly likely to resume in the second half of the year, following a narrower-than-expected contraction in the second quarter.
"The great, great likelihood is that we'll see growth going forward in the second half of the year," Summers said in an interview with NBC television's Meet the Press.
His comments followed the release of new gross domestic product figures showing that US output declined 1.0 percent in the second quarter, better than private forecasters had expected.
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