U.S. GDP Growth Slows to 2.2% in Q2 as August Spending Rises
Photo: TokenPost
U.S. economic growth slowed in the second quarter while inflation-adjusted consumer spending advanced in August, giving separate readings on output and household demand in the U.S. economy. Real gross domestic product (GDP) expanded at a 2.2% annual rate in the second quarter, down from 2.5% in the first. The third estimate, released Sept. 30, raised the second-quarter figure by 0.7 percentage point from the previous 1.5% estimate. Real personal consumption expenditures (PCE) increased 0.6% from July, equal to $92.8 billion. Current-dollar PCE rose 0.9%, or $190.8 billion, over the same month.
Source: TokenPost
