US economic growth reached 2.8% in the second quarter 💵
The US economy grew at an annual rate of 2.8% in the second quarter, showing consumer resilience despite economic challenges. Data from the Bureau of Economic Analysis beat economists' expectations by 2% and beat the first quarter's pace of 1.4%.
📈 Despite high interest rates, inflation has dropped to around 3%. The Fed remains optimistic about reducing inflation to its 2% target without triggering a recession. Consumer spending rose 2.3%, reflecting strong demand, although the labor market showed signs of weakness. President Biden praised this growth, affirming that the US has the strongest economy in the world.
🖥 Highlights:
🔹 GDP growth in the second quarter: 2.8%
🔹 Fed interest rate: 5.25%-5.5%
🔹 Inflation: about 3%
🔹 Consumer spending: up 2.3%
🔹 Weakened labor market
🔹 President Biden is optimistic
🔗 Source: 🔥Crypto Analysis ⚡️⚡️
https://t.me/cryptoanalysisvn/1/1851
