✉news BusinessRetail first seen 1 d ago, last 7 min ago, peak #7
US second-quarter GDP revised higher on strong consumer spending
Original: US second-quarter GDP revised higher amid robust consumer spending
The US Commerce Department has revised its estimate of second-quarter economic growth upward, citing stronger consumer spending than initially reported. The revision suggests the American economy proved more resilient than expected, easing recession concerns and reinforcing the view that household demand continues to drive growth despite high interest rates and inflation pressures.
Why now: The upward GDP revision is fresh economic news that shifts expectations about the strength of the US economy and future interest rate policy.
United StatesCommerce DepartmentFederal Reserve
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