✉news BusinessRetail first seen 23 h ago, last 1 h ago, peak #7
US second-quarter GDP revised higher on consumer spending
Original: US second-quarter GDP revised higher amid robust consumer spending
The US economy grew faster in the second quarter than first estimated, according to a revised GDP figure reported by Reuters. The upgrade is attributed to robust consumer spending, which continues to underpin growth despite higher interest rates. The revision offers a more upbeat picture of economic resilience and is likely to feed into debate over the Federal Reserve's next policy moves.
Why now: A stronger-than-expected GDP revision signals the US economy is more resilient than thought, feeding debate about inflation and interest rates.
United StatesFederal ReserveReuters
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