The U.S. economy expanded by 3.0% quarter-on-quarter (q/q, annualized) in the second quarter – slightly above the consensus forecast of 2.6% – and up sharply from Q1’s contraction of 0.5%. Consumer spending rose 1.4% q/q, a modest acceleration from Q1’s 0.5%. Spending on both goods (2.2% from 0.1%) and services (1.1% from 0.6%) accelerated relative […]
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