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 TSX Breaks Losing Streak as Materials and Energy Sectors Surge READ MORE Rosenberg Forecasts Gold to Hit Unprecedented $3,000 READ MORE BloxCross CEO Keith Bliss Favors Copper in Commodities Showdown READ MORE Powell: Fed May Cut Rates Before Inflation Hits 2% Target READ MORE Inflation Is Down but Don't Thank the Fed READ MORE Add a Comment Cancel replyYour email address will not be published.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