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 Markets on Edge: Continuing Coverage of Regional Banking Crisis READ MORE Gold Rush 2024: Experts Weigh In on Different Gold Strategies READ MORE Gold Climbs as Powell Paves Way for September Rate Cut READ MORE Gold Wavers as U.S. Economic Slowdown Spurs Rate Cut Speculation READ MORE Gold Price Steadies Near $2,300 Ahead of Key FOMC Decision READ MORE Add a Comment Cancel replyYour email address will not be published.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