In The Things Are Getting Better Department

From ZeroHedge:

"In a surprise for traders - and the Fed - moments ago the BEA {Bureau of Economic Analysis} reported that after its first revision of Q2 GDP (a quarter which ended two months ago), the initial estimate of 2.6% was revised to 3.0%, beating expectations of a 2.7% print, and the highest annualized growth rate since Q1 2015. The annualized Q2 GDP was more than double the first quarter number which as a reminder printed at 1.2%....while most components were revised higher in the latest release....the biggest contributor to the upward revision was Personal Spending which surged 3.3% in Q2, after rising 1.9% in Q1, and contributing 2.28% of the bottom GDP line."

My comment:  Looks like the consumer is finally opening his wallet.  Strong economies beget stronger confidence and consumer spending.  Of course I've long thought that the consumer has been spending money, they've just not been doing it in ways that could be measured by using traditional metrics.  Those pundits that keep screeching gloom and doom are simply not looking at the numbers or talking to the man on the street as he's spending money at the checkout counter.

Link: ZeroHedge: "Us 2nd Quarter GDP Revised Sharply Higher to 3%, Best In Two Years"