US economy grew a solid 2.2% in the second quarter, government says, upgrading previous estimate
- 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.
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Washington, 30 Sep (EFE).- The US economy grew by 0.6% between April and June compared to the first quarter, which represents an upward revision of two tenths compared to the second estimate published in August, while in annual rate, the world’s first power grew by 2.2 %, seven [...] The US entry grew by 0.6% in April-June, two tenths more according to revised data was first published in HolaNews.
The U.S. economy grew at an annualized rate of 2.2% in the second quarter of this year. This figure has been revised upward by 0.7 percentage points from previously announced figures. According to the U.S. Department of Commerce on the 30th (local time), U.S. real gross domestic product (GDP) rose 0.6% in the second quarter compared to the previous quarter. On an annualized basis, it increased by 2.2%. This is 0.7 percentage points higher than t…
US reports firm Q2 economic growth, inflation steady
The US Commerce Department revised upwards its estimate for Q2 GDP growth in the world's largest economy by 0.7 percentage points to 2.2 percent. "The contributors to the increase in real GDP in the second quarter were consumer spending, investment, and exports. Imports, which are a subtraction in the calculation of GDP, increased," the Bureau of Economic Analysis said in a statement. The new data will come as a boost to US President Donald Trum…
US economy picks up pace in Q2, grows 2.2% as consumer spending, AI investment surge
The US economy grew at a 2.2% annual pace in the second quarter, up from the government’s earlier 1.5% estimate, as consumer spending and business investment remained strong. Consumer spending rose 3.8%, while business investment excluding housing increased 9%. Surging imports, however, trimmed nearly 1.7 percentage points from GDP growth.
Spectrum News
U.S. economy grew 2.2% in second quarter, upgrading previous estimate
The previous estimate from the Commerce Department was 1.5%.
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