The National on Nostr: US economic growth accelerated by more than expected in the last quarter ========== ...
US economic growth accelerated by more than expected in the last quarter
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US economic growth exceeded expectations in the second quarter, with GDP increasing at a 2.8% annualized rate, driven by personal spending which rose 2.3%. Underlying inflation rose 2.9%. President Joe Biden stated that the US now has the strongest economy in the world. The Federal Reserve is likely to start cutting interest rates in September to cool the labor market without causing unemployment. Consumer spending was driven by durable goods and moderate services outlays. Government spending and business investment also contributed to GDP growth. Business equipment orders increased in June. Treasury yields rose slightly and stock futures fluctuated after the report.
#UsEconomy #Gdp #Inflation #InterestRates #ConsumerSpending #FederalReserve #LaborMarket #BusinessInvestment
https://www.thenationalnews.com/business/economy/2024/07/25/us-economic-growth-accelerated-by-more-than-expected-in-the-last-quarter/
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US economic growth exceeded expectations in the second quarter, with GDP increasing at a 2.8% annualized rate, driven by personal spending which rose 2.3%. Underlying inflation rose 2.9%. President Joe Biden stated that the US now has the strongest economy in the world. The Federal Reserve is likely to start cutting interest rates in September to cool the labor market without causing unemployment. Consumer spending was driven by durable goods and moderate services outlays. Government spending and business investment also contributed to GDP growth. Business equipment orders increased in June. Treasury yields rose slightly and stock futures fluctuated after the report.
#UsEconomy #Gdp #Inflation #InterestRates #ConsumerSpending #FederalReserve #LaborMarket #BusinessInvestment
https://www.thenationalnews.com/business/economy/2024/07/25/us-economic-growth-accelerated-by-more-than-expected-in-the-last-quarter/