2.8% Q2 2024 US economic growth exceeds expectations, driven by cooling inflation and increased consumer spending.

The US economy grew 2.8% in Q2 2024, exceeding expectations, driven by cooling inflation, increased consumer spending, and businesses investing in stock inventory and equipment. This marks the second consecutive year of economic growth, signaling a transition to a more normal growth pattern. The Federal Reserve is expected to approach rate decisions with caution as inflation continues to decline.

July 25, 2024
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