The US economy outpaced forecasts as exports fueled a second-quarter growth spurt at a 3.3-percent pace, according to data Thursday that some analysts say make recession less likely.
But despite the surprising growth some Americans aren't convinced that the country has avoided a recession.
"The reason this feels like a recession is—from the standpoint of the consumer—it basically is," David Ressler, chief economist at Nomura Securities. "Consumer spending is very weak and isn't going to get any stronger anytime soon, and that's with the benefit of the economic stimulus."
Of course, not everyone was dismissing the numbers. The Dow and S&P rallied following the report and some experts cheered that the worst may be over.
"The market is gaining increasing confidence the strain in the financial markets and high oil prices will not tip the economy into a recession," said Jim Awad, chairman of W.P. Stewart.
And that leads to our Fast Money Reader Poll. Is the worst behind us? Tell us below and see what people are saying!
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