Oddbean

U.S. economy shows strong 2.8 percent growth, driven by consumers and businesses ========== The U.S. economy grew at a strong 2.8 percent annual pace in the April-June quarter, surpassing expectations of 1.9 percent growth. Consumer spending rose at a 2.3 percent rate, while business investment increased, led by a 11.6 percent rise in equipment investment. The economy has cooled due to high borrowing rates, but the Federal Reserve is expected to cut interest rates soon. Inflation has slowed but prices remain high. The slowdown earlier this year was caused by a surge in imports and a drop in business inventories. The economy has remained resilient despite higher borrowing costs and supply shortages. #UsEconomy #GdpGrowth #ConsumerSpending #BusinessInvestment #InterestRates #Inflation https://www.pbs.org/newshour/economy/u-s-economy-shows-strong-2-8-percent-growth-driven-by-consumers-and-businesses