U.S. on track for economic rebound despite virus 'interruptions', Commerce secretary says
WASHINGTON (Reuters) - The U.S. economy remains on a strong upturn in the second half of the year, although Texas has decided to cut the reopening due to the novel coronavirus spike, U.S. Secretary of Commerce Wilbur Ross said on Friday.
"It is natural that there will be some small interruptions when we get out of the pandemic, but I think the key is that consumer spending will continue to lead the recovery," he told Fox Business Network, referring to the high savings rates the consumer.
"Perhaps there is at most one little slip from Q3 to Q4, but at the end of the day it is important that the direction is a good one," he added. "The direction is a strong upward direction."
(Reporting by Tim Ahmann; editor by Susan Heavey)
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