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Headline : US Inflation News Today: Robust Growth in Second Quarter

Read more from the original article on here at www.financebrokerage.com.





Tags : #us #inflation #news #today #robust #growth #second #quarter


No. of Paragraph 62

The U.S. economy expanded more rapidly than anticipated in the second quarter of 2024, driven by robust consumer spending and business investment. However, today’s inflation news shows eased pressure, leading the market to maintain expectations for a Federal Reserve interest rate cut in September.

The Commerce Department’s preliminary report on Thursday showed that inventory accumulation and increased government expenditure boosted last quarter’s growth. However, the housing market’s recovery stalled, slightly hindering the economy. The expanding trade deficit also negatively impacted GDP growth.

The report alleviated concerns about a sudden end to the economic expansion. Meanwhile, weak performance in the first quarter and in April had initially sparked this sentiment.

Another notable aspect that concerns the investors is the substantial rate hikes from the U.S. central bank in 2022 and 2023. However, the U.S. economy continues to outperform its global peers. All due to a resilient labour market.

Read more from the original article on here at www.financebrokerage.com.


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