US economy grew a solid 2.2% in the second quarter, government says, upgrading previous estimate
Consumer spending rose 3.8% and business investment jumped 9%, offsetting a 12.6% increase in imports, the Commerce Department said.
- The Commerce Department reported Wednesday that the U.S. economy grew at a solid 2.2% pace from April through June, upgrading its previous estimate of 1.5%.
- Consumer spending, representing about 70% of economic activity, increased at a healthy 3.8% annual pace, up from 0.7% in the January-March period, driving the expansion.
- Business investment, excluding housing, rose at a 9% clip reflecting the artificial intelligence investment boom; Imports rose at a 12.6% annual pace, slashing nearly 1.7 percentage points off growth.
- Investment in housing rose 2.8%, ticking up for the first time since the end of 2024, while underlying economic strength grew at a strong 4.6% rate.
- The economy has proven surprisingly resilient despite fighting with Iran and energy price spikes; the Commerce Department will release the first look at third-quarter growth on Oct. 29.
111 Articles
111 Articles
In the second quarter of the year, from April to June, the American economy recorded a growth of 2.2 percent, which is 0.3 percent less growth compared to the first quarter, from January to March, the US Ministry of Commerce announced today.
United States Reviews Upwards Economic Growth in the Second Quarter, While Inflation Remained Stable
Analysts noted that much of the upward revision comes from sectors exposed to the rise of artificial intelligence (AI) technology.
U.S. Economy Surpasses Predictions in Q2
Recent data reveals that the U.S. economy significantly outperformed forecasts in the second quarter, demonstrating a robust growth trajectory. This highlights the resilience and strength of our economic foundations.
US Economy Crushes All Expectations In Second Quarter
The U.S. economy blew past expectations in the second quarter, with new government data showing growth was far stronger than economists had previously estimated. Real gross domestic product increased at an annualized rate of 2.2% from April through June, according to the Commerce Department’s final estimate released Wednesday. Economists surveyed by LSEG had expected growth […]
Coverage Details
Bias Distribution
- 46% of the sources are Center
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
Factuality
To view factuality data please Upgrade to Premium
