USA: GDP growth revised to 3% in Q2

(CercleFinance.com) - US gross domestic product (GDP) grew at an annualized rate of 3% in the second quarter of 2024, according to the Commerce Department's second estimate, which had announced 2.
8% on first reading a month ago.

This growth, a sharp acceleration on the 1.4% seen in the previous quarter, was mainly attributable to higher consumer spending, private inventory investment and business investment.

In addition, the PCE price inflation index stood at +2.5% over the period, compared with an increase of +3.4% in the first quarter. Excluding food and energy prices, the index fell from +3.7% to +2.8% quarter-on-quarter.

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