Washington Post (07/25/24) Bhattarai, Abha
In the second quarter, the U.S. economy grew at an annualized rate of 2.8%, capping two years of strong expansion despite some signs of slowing. This growth, which doubled the 1.4% rate from the previous quarter, was primarily driven by consumer spending and business investments, with continued government spending also contributing. The robust GDP figures add uncertainty to expectations about whether the Federal Reserve will begin cutting interest rates in September, as previously expected.
This article originally appeared on www.washingtonpost.com. Use this link to see the full article: U.S. economy grew 2.8% in second quarter, a robust unexpected strengthening
