09/09/2024

Q2 2024 U.S. Economic Growth is Revised up to a Solid 3 Percent Annual Rate

It was fueled by strong consumer spending, business investment

The U.S. economy grew last quarter at a healthy 3 percent annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment.

The Commerce Department had previously estimated that the nation’s gross domestic product — the total output of goods and services — expanded at a 2.8 percent rate from April through June.

The second-quarter growth marked a sharp acceleration from a sluggish 1.4 percent growth rate in the first three months of 2024.

Please select this link to read the complete article from The Associated Press.