Add as a preferred source on GoogleU.S. GDP Growth Slows to 2.2% in Q2 as August Spending Rises
The third estimate lifted second-quarter growth from 1.5%, while real personal consumption expenditures rose 0.6% month over month in August.
U.S. economic growth slowed in the second quarter while inflation-adjusted consumer spending advanced in August, giving separate readings on output and household demand in the U.S. economy.
Real gross domestic product (GDP) expanded at a 2.2% annual rate in the second quarter, down from 2.5% in the first. The third estimate, released Sept. 30, raised the second-quarter figure by 0.7 percentage point from the previous 1.5% estimate.
Real personal consumption expenditures (PCE) increased 0.6% from July, equal to $92.8 billion. Current-dollar PCE rose 0.9%, or $190.8 billion, over the same month.
The GDP figures cover the second quarter, while the spending data cover August.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.