US: Real GDP Moderated in Q2, But Domestic Demand Was Strong

The U.S. economy expanded by 1.5% quarter-on-quarter (q/q, annualized) in the second quarter, decelerating from 2.1% in the first quarter, and weaker than the consensus forecast of 2.0%. Underneath the softer headline, consumer spending rose by a healthy 3.2% q/q, well above Q1’s 0.5%. Goods and services spending accelerated to 5.2% and 2.2% respectively. Business […]

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