US Economy Q2 Growth Revised Up to 3% on Strong Consumer and Business Activity The U.S. economy demonstrated robust growth in the second quarter of 2024, with the annual rate revised upward to 3% from the initial estimate of 2.8%. This significant improvement from the first quarter’s 1.4% growth was driven by strong consumer spending and business investment. The revision reflects a resilient economy despite high interest rates, with consumer spending increasing at a 2.9% annual rate and business investment expanding at 7.5%. The report also indicates a continued easing of inflation, with the PCE index showing a decrease from the previous quarter. This positive economic performance comes at a crucial time, as it may influence voter sentiment ahead of the November presidential election. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Citi Forecasts Gold Prices Could Hit $3,000 Within a Year READ MORE Swiss Central Bank Cuts Rates, Getting Ahead of Global Peers READ MORE Unearthing Deception: The $6 Billion Mining Fraud That Shocked the World READ MORE Renewed Geopolitical Tensions and US Inflation Spike Reignite Currency Market Volatility READ MORE Economic Optimism: Growth and Jobs Up, Inflation Down in 2024 Forecast READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment