US economy regains speed in second quarter; price pressures easing
==========

The US economy grew faster than expected in the second quarter, with a 2.8% annualized growth rate, driven by solid gains in consumer spending and business investment. Inflation pressures subsided, supporting expectations of a September interest rate cut from the Federal Reserve. The growth rate in the first half of the year averaged 2.1%, half the pace of the last six months of 2023. Consumer spending increased at a 2.3% rate, driven by outlays on services and goods. Business investment and inventory building also contributed to growth. Despite the solid growth, the outlook for the second half of the year is uncertain due to a slowing labor market and potential impact from tariffs and rate hikes.

#UsEconomy #GdpGrowth #ConsumerSpending #BusinessInvestment #Inflation #FederalReserve

https://www.kitco.com/news/off-the-wire/2024-07-25/us-economy-regains-speed-second-quarter-price-pressures-easing