U.S. economy grew at 2.8% rate in second quarter, higher than expected - UPI.com
==========

The U.S. economy grew by 2.8% in the second quarter of 2024, higher than expected; the increase primarily reflected increases in consumer spending, private inventory investment, and nonresidential fixed investment; economists had expected a growth rate of 2.1%; motor vehicles and parts, recreational goods and vehicles, furnishings and durable household equipment, as well as gasoline and other energy goods, all increased; on the services side, healthcare, housing and utilities, and recreation services saw increases; personal income increased by $237.6 billion in the second quarter; disposable income was up 3.6%, or $186.3 billion; personal saving hit $720.5 billion for the second quarter; President Joe Biden touted his administration's economic efforts but said there was still 'more to do.'

#UsEconomy #Gdp #EconomicGrowth #ConsumerSpending #InventoryInvestment #FixedInvestment #MotorVehicles #Services #PersonalIncome #DisposableIncome #PersonalSaving #JoeBiden

https://www.upi.com/Top_News/US/2024/07/25/GDP-second-quarter-2024-BEA/9311721915427/