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The U.S. economy registered modest growth in the second quarter on stronger-than-expected consumer spending and business investment, according to the Bureau of Economic Analysis’s second estimate released on Aug. 26.
Growth in the April–June period was 1.5 percent, unchanged from the initial estimate released last month.
This was fueled by consumer spending, exports, and business investment, which helped offset the 1 percent decline in government spending.
Real (inflation-adjusted) consumer spending was adjusted upward to 3.4 percent as shoppers participated in seasonal events, including the FIFA World Cup and Amazon Prime Day.
Additionally, the bureau reported that personal spending rose 0.2 percent in July, from 0.3 percent in June. This also came in higher than the consensus estimate of 0.1 percent….
Growth in the April–June period was 1.5 percent, unchanged from the initial estimate released last month.
This was fueled by consumer spending, exports, and business investment, which helped offset the 1 percent decline in government spending.
Real (inflation-adjusted) consumer spending was adjusted upward to 3.4 percent as shoppers participated in seasonal events, including the FIFA World Cup and Amazon Prime Day.
Additionally, the bureau reported that personal spending rose 0.2 percent in July, from 0.3 percent in June. This also came in higher than the consensus estimate of 0.1 percent….
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