<\/p>\n
The US economy expanded at an unrevised 1.5% pace in the second quarter, though underlying details showed stronger consumer spending and business investment than initially reported.<\/p>\n
The annualised gain in inflation-adjusted gross domestic product compares with a 2.1% advance in the first quarter, according to the second estimate issued Wednesday by the Bureau of Economic Analysis.<\/p>\n
Consumer spending, which comprises more than two-thirds of economic activity, increased an annualised 3.4%, stronger than the initially estimated 3.2% gain. Non-residential fixed investment climbed at an 8.5% pace.<\/p>\n
ADVERTISEMENT<\/p>\n
CONTINUE READING BELOW<\/p>\n
A narrower gauge of underlying demand, final sales to private domestic purchasers, rose a revised 4.2% in the second quarter \u2014 the strongest in more than three years and compared with an initial estimate of 3.9%. The measure excludes net exports, inventories and government spending.<\/p>\n
Government spending declined an annualized 1% in the second quarter, reflecting a steep drop in nondefense-related outlays.<\/p>\n
Meanwhile, the personal consumption expenditures price index minus food and energy was revised up to an annualised 3.6% rate from 3.4%. Separate data out Wednesday showed a 0.2% increase in the so-called core PCE price gauge in July from the prior month.<\/p>\n
That report also showed no change in real consumer spending during the month after more robust increases in the prior two months.<\/p>\n
\u00a9\u00a02026\u00a0Bloomberg<\/p>\n
#economy #expands #Moneyweb<\/p>\n","protected":false},"excerpt":{"rendered":"
The US economy expanded at an unrevised 1.5% pace in the second quarter, though underlying…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[649,2983,495],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/14564"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14564"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/14564\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}