US economic growth beats predictions in Q2 due to high consumer spending

Posted on July 29, 2024   |  

US economic growth in Q2 reached 2.8%, up from 1.4% in Q1, due to strong consumer spending and inventory building despite high interest rates.

The US economy grew 2.8% from April to June, much higher than the predicted 1.9%, showing resilient consumer activity.

Economists expected a 1.9% growth rate for Q2, but the actual 2.8% indicates strong economic performance and consumer strength.

Despite high interest rates, US GDP growth in Q2 was 2.8%, surpassing the forecasted 1.9%, driven by robust consumer spending and inventory growth.