US government estimates last quarter's economic growth was 2.1%, unchanged from previous estimate
- The U.S. Economy grew at a solid pace in the second quarter, expanding by 2.1% annually and maintaining its strong performance despite higher interest rates.
- Consumer spending, business investment, and state and local government outlays were the key drivers of the second-quarter economic expansion. However, consumer spending grew at a slower rate of just 0.8% from April through June.
- There are concerns about the future, as hiring and income growth are slowing and economists predict that savings accumulated during the pandemic will have disappeared by next quarter. Nevertheless, the economy is expected to continue growing and accelerate in the current quarter.
Insights by Ground AI
Does this summary seem wrong?
Coverage Details
Total News Sources0
Leaning Left10Leaning Right5Center14Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 35%
C 48%
R 17%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage