US GDP grows 0.4% in the second quarter
The U.S. Department of Commerce's Bureau of Economic Analysis has maintained in its second reading the data on the increase in the country's gross domestic product (GDP) in the second quarter with an annualized increase of 1.5%, which represents a quarterly increase of 0.4%.
The US Department of Commerce's Bureau of Economic Analysis has confirmed a 1.5% annualised increase in US GDP for the second quarter, representing a 0.4% quarterly rise. This marks a slowdown of 0.4 percentage points from the 2.1% growth in the first quarter. The increase was driven by higher consumer spending, exports, and investment, although partially offset by decreased government spending and slower investment and exports. The PCE price index, closely watched by the Federal Reserve, rose to 3.6%, up 0.2% from last month.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
