Economy

US Economy Expanded 2.8 Percent in 2nd Quarter, Fueled by Consumer Spending

The consumer keeps the U.S. economy in expansion mode.
US Economy Expanded 2.8 Percent in 2nd Quarter, Fueled by Consumer Spending
Shoppers and pedestrians walk up Broadway in New York City on July 16, 2024. Mario Tama/Getty Images
Andrew Moran
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The U.S. economy continued to expand in the second quarter, topping economists’ expectations and shrugging off the Federal Reserve’s 23-year high interest rates.

According to the advanced estimate from the Bureau of Economic Analysis on July 25, the U.S. economy grew at an annualized pace of 2.8 percent in the April–June period, up from 1.4 percent in the first quarter.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."