Published • loading... • Updated
US economy grew a solid 2.2% in the second quarter, government says, upgrading previous estimate
Consumer spending rose 3.8% and business investment climbed 9%, while imports shaved nearly 1.7 percentage points off growth, 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.
Insights by Ground AI
Podcasts & Opinions
152 Articles
152 Articles
Consumer spending, increased investment, exports and imports contributed to economic growth in the second quarter
·Los Angeles, United States
Read Full Article
📈🚀 Trump Economy Shatters Expectations (Again)
The U.S. economy grew 2.2% in the second quarter, well above the 1.5% first reported and a surprise to economists who expected no change. Dig deeper, and it gets better. While American families continue to recover from the devastation caused by Joe Biden and House Democrats, core growth, which strips out government spending and trade, hit […]
Revised US GDP growth data showed that the US economy grew by 2.2 percent in the second quarter, instead of the previously announced 1.5 percent.
·Vilnius, Lithuania
Read Full Article
Coverage Details
Total News Sources152
Leaning Left22Leaning Right30Center46Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 22%
C 47%
R 31%
Factuality
To view factuality data please Upgrade to Premium
