Friday April 3, 2020

US second quarter growth estimate revised to 4.6%

The American economy expanded during the second quarter at the quickest rate since the end of 2011 as households began to spend more and companies stepped up investment.

26th September, 2014
Economists are predicting that growth will cool to a more sustainable pace after the Q2 rebound

The American economy expanded during the second quarter at the quickest rate since the end of 2011 as households began to spend more and companies stepped up investment.

GDP grew at a 4.6 per cent annualised rate, up from a previous estimate of 4.2 per cent, data from the Commerce Department in Washington showed today.

The new figures show that consumer spending is benefiting from strengthening labour conditions. Consumer purchases, which account for almost 70 per cent of...

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