The US economy grew at a faster-than-expected pace in the second quarter of 2023, adding to signs that the threat of a recession has faded in the immediate term.
The Bureau of Economic Analysis’s advance estimate of second quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 2.4% during the period, faster than consensus forecasts. Economists surveyed by Bloomberg had the US economy growing at an annualized pace of 1.8% during the period.
Read More : GDP Report: US Economy’s Q2 Growth Exceeds Anticipated Rate