U.S. economy grows 3% in Q2 2023, driven by consumer spending and revised GDP/GDI growth.
The U.S. economy grew at a 3% annual rate in Q2 2023, matching economists' predictions. The Commerce Department confirmed this growth was driven by strong consumer spending. Additionally, first-quarter GDP growth was revised upward to 1.6%. A revision showed gross domestic income (GDI) increased at a 3.4% rate, highlighting stronger economic performance than previously estimated.
September 26, 2024
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