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Piero Cingari

US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike

GDP Economy Jerome Powell US Federal Reserve

The American economy expanded at an annualized rate of 2.4% in the second quarter of 2023, according to the advance estimates released Thursday by the U.S. Bureau of Economic Analysis. WU XIAOLING/GETTY IMAGES

The American economy expanded at an annualized rate of 2.4% in the second quarter of 2023, according to the advance estimates released Thursday by the U.S. Bureau of Economic Analysis.

The figure marked sequential growth from the previous quarter’s GDP reading of 2% and sharply outpaced economist expectations of 1.8%, signaling that the pace of economic growth gained further strength.

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