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US economic growth beats predictions in Q2 due to high consumer spending
Posted on July 29, 2024 |
US economic growth in Q2 reached 2.8%, up from 1.4% in Q1, due to strong consumer spending and inventory building despite high interest rates.
The US economy grew 2.8% from April to June, much higher than the predicted 1.9%, showing resilient consumer activity.
Economists expected a 1.9% growth rate for Q2, but the actual 2.8% indicates strong economic performance and consumer strength.
Despite high interest rates, US GDP growth in Q2 was 2.8%, surpassing the forecasted 1.9%, driven by robust consumer spending and inventory growth.