In what passes for good news about the U.S. economy these days, the government on Wednesday is expected to revise upward the broad measure of growth known as gross domestic product. If forecasts hold up, the GDP report will show that the nation’s economy expanded at a rate of 1.7 percent in the second quarter of 2012, up from a previous estimate of 1.5 percent.
Statisticians may celebrate the economy growing at a slightly-less-mediocre pace. On Main Street, though, everyone knows that prosperity is running way behind what’s normally expected in any recovery worthy of the name.
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