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U.S. GOVERNMENT ESTIMATES ECONOMY GREW LAST QUARTER

Washington — The U.S. economy grew at a 2.1% annual pace from April through June, extending its sturdy performance in the face of higher interest rates, the government said Thursday, leaving its previous estimate unchanged. The second-quarter expansion of the nation’s gross domestic product — its total output of goods and services — marked a modest deceleration from the economy’s 2.2% annual growth from January through March. Consumer spending, business investment and state and local government outlays drove the second-quarter economic expansion. The economy and job market have shown surprising resilience even as the Federal Reserve has dramatically raised interest rates to combat inflation, which last year hit a four-decade high.

WORLD & NATION

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2023-09-29T07:00:00.0000000Z

2023-09-29T07:00:00.0000000Z

https://epaper.theday.com/article/281530820652195

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