US Economy Surpasses Expectations in Q2, Driven by Spending
The US economy exceeded forecasts in the second quarter, with a 2.8% GDP growth driven by consumer spending, business investments, and defense. Despite a real estate decline, positive growth was seen.
Core inflation above 2% influenced the Fed's rate decisions to manage inflation without causing a recession. The initial GDP figure is subject to two revisions, as reported by Bloomberg.
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