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US economy Q2 growth
Finance · 2 updates
US economy expands 1.5% in Q2
The US economy expanded at a slower-than-expected annualised pace of 1.5% in the April-June quarter, as a widening trade deficit weighed on growth despite strong consumer spending and continued investment in artificial intelligence-related infrastructure, according to data released by the Commerce Department on Thursday.The advance estimate from the Commerce Department's Bureau of Economic Analysis showed gross domestic product (GDP) slowed from a 2.1% annualised growth rate in the first quarter. Economists polled by Reuters had expected the economy to grow at a 2.1% pace. Also Read: The US is
US productivity tops forecasts in Q2
Washington: U.S. worker productivity grew faster than expected in the second quarter and further gains are likely as businesses invest in artificial intelligence, which is expected to keep wage inflation contained.Nonfarm productivity, which measures hourly output per worker, increased at a 1.4% annualized rate last quarter after advancing at an upwardly revised 0.8% pace in the January-March quarter, the Labor Department's Bureau of Labor Statistics said on Thursday. Economists polled by Reuters had forecast productivity would grow at a 0.6% rate following a previously reported 0.3%
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