GDP increased at a 2.4% annualized rate for the April-through-June period, better than the 2% consensus estimate from Dow Jones.
GDP, the sum of all goods and services activity, increased at a 2.4% annualized rate for the April-through-June period, better than the 2% consensus estimate from Dow Jones. GDP rose at a 2% pace in the first quarter.Markets moved higher after the report, with stocks poised for a positive open and Treasury yields on the rise.
Perhaps as important, inflation was held in check through the period. The personal consumption expenditures price index increased 2.6%, down from a 4.1% rise in the first quarter and well below the Dow Jones estimate for a gain of 3.2%. In the face of persistent calls for a recession, the economy showed surprising resilience despite a series of Federal Reserve interest rate increases that most Wall Street economists and even those at the central bank expect to cause a contraction.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. economy grew at a faster 2.4% rate in April-June quarter despite Fed rate hikesThe U.S. economy accelerated unexpectedly to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve’s 16-month-long fight against inflation.
Read more »
U.S. economy grew at a faster 2.4% rate in April-June quarter despite Fed rate hikesThursday’s estimate from the Commerce Department indicated that the gross domestic product picked up from the 2% growth rate in the January-March quarter.
Read more »
US economy accelerated unexpectedly to a 2.4% growth rate in April-JuneThe U.S. economy surprisingly accelerated to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve's 16-month-long fight to bring down inflation.
Read more »
US economy accelerated unexpectedly to a 2.4% growth rate in April-June quarter despite Fed hikesThe U.S. economy surprisingly accelerated to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserve's 16-month-long fight to bring down inflation.
Read more »
US economy grew in 2nd quarter even as interest rates roseEfforts to curtail inflation so far have not put much of a damper on the overall economy as U.S. GDP increased from April through June.
Read more »
South Korea: GDP disappoints in Q2 – UOBEconomist at UOB Group Ho Woei Chen reviews the latest release of the advanced GDP figures in South Korea during the April-June period. Key Takeaways
Read more »