look news india
US economic growth appears to be accelerating again in the second quarter. Inflation has slowed down. US economic growth was faster than expected in the second quarter. Due to slowing inflation, expectations of the Federal Reserve cutting interest rates in September remain intact.
The Commerce Department's Bureau of Economic Analysis said in its preliminary estimate of GDP for the second quarter that gross domestic product (GDP) grew 2.8 percent year-on-year in the last quarter. A survey of economists had estimated GDP growth at 2.0 percent. Estimated rates were estimated to be between 1.1 percent and 3.4 percent. The US economy grew at a rate of 1.4 percent in the first quarter. The US economy performed well compared to its peers despite sharp rate hikes by the Federal Reserve in 2022 and 2023. Despite the US unemployment rate reaching a high of 4.1 percent in the last two years, the US economy has performed well with the support of a flexible labor market.
