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AP via Huffington Post
WASHINGTON — President Bush said Saturday that Americans may have cause this Labor Day weekend to start worrying less about the nation's _ and their families' _ economic health.
"There have been some recent signs that our economy is beginning to improve," Bush said in his weekly radio address.
Among the positive signs that Bush referenced was a report Thursday that the overall economy, as measured by the gross domestic product, rose by 3.3 percent in the April-June quarter. This surprised analysts and was a significant rebound from growth of just 0.9 percent in the first quarter of the year. Most credit was given to the $93 billion in economic stimulus payments the federal government has sent to households since May.
However, other economic news this week showed that right after that second quarter, in July, consumer spending slowed to a crawl and personal incomes plunged.
Bush: Economy on the upswing
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