{
  "id": 10947271,
  "title": "US economy grew 2.2% in the second quarter, govt says, upgrading previous estimate",
  "url": "https://urgent.news/2026/09/30/us-economy-grew-2-2-in-the-second-quarter-govt-says-upgrading",
  "topic": "world",
  "section": "World",
  "published": "2026-09-30T13:06:37.000Z",
  "source": {
    "name": "ABC News (US)",
    "slug": "abc-news-us",
    "url": "https://abcnews.com/Business/wireStory/us-economy-grew-solid-22-quarter-government-upgrading-136885737"
  },
  "original_language": "en",
  "account": "The U.S. economy expanded by 2.2% in the second quarter of 2023, according to the Commerce Department, marking an upgrade from the previous estimate of 1.5%. This solid growth came as consumer spending and business investment both performed well. Consumer spending, which makes up about 70% of U.S. economic activity, rose by 3.8% on an annual basis, up sharply from 0.7% in the previous quarter. However, the growth in GDP was tempered by an increase in imports, which surged by 12.6% annually. This rise in imports, primarily driven by a surge in AI-related product shipments including computer chips, reduced the growth number by nearly 1.7 percentage points. Business investment, excluding housing, grew at a robust 9% rate, reflecting a surge in AI-related investments. Furthermore, a measure of the economy's underlying strength, which excludes volatile factors like government spending and trade, expanded at a commendable 4.6% pace, up from 1.8% in the first quarter. Housing investment, which had been languishing due to high mortgage rates, also saw a 2.8% increase, marking the first uptick since late 2024. The GDP growth figures were the final estimates released by the Commerce Department, with the next set of figures for third-quarter growth expected on October 29th.",
  "summary": "The U.S. economy grew at a solid 2.2% pace from April through June as consumer spending and business investment came in strong",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Winnipeg Free Press",
        "title": "US economy grew a solid 2.2% in the second quarter, government says, upgrading previous estimate",
        "url": "https://urgent.news/2026/09/30/us-economy-grew-a-solid-2-2-in-the-second-quarter-government-says",
        "published": "2026-09-30T12:45:17.000Z"
      },
      {
        "outlet": "PBS NewsHour",
        "title": "U.S. economy grew a solid 2.2% in the second quarter, government says, upgrading previous estimate",
        "url": "https://urgent.news/2026/09/30/u-s-economy-grew-a-solid-2-2-in-the-second-quarter-government-says",
        "published": "2026-09-30T13:52:27.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}