The U.S. economy expanded by 1.5% quarter-on-quarter (q/q, annualized) in the second quarter, unchanged from the advance estimate. Underneath the modest headline, consumer spending rose by a healthy 3.4% (up from the initial estimate of 3.2%), well above Q1’s 0.5%. Goods and services spending accelerated to 4.3% and 3.1%, respectively. Business investment was also strong, […]
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