US economy grew faster than expected last quarter on firm demand
26/7/2024 6:27
US economic growth accelerated by more than forecast in the second quarter, illustrating demand is holding up under the weight of higher borrowing costs.
Gross domestic product increased at a 2.8% annualized rate in the April-June period after rising 1.4% in the previous quarter, the government’s initial estimate showed. The economy’s main growth engine — personal spending — advanced 2.3%, also more than projected.
Source: Bloomberg
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