The U.S. economy expanded at a 2.1% annual pace from April through June the government said Wednesday in a downward revision from its initial estimate.
The U.S. economy expanded at a 2.1% annual pace from April through June the government said Wednesday in a downward revision from its initial estimate.
The government had previously estimated that the economy expanded at a 2.4% annual rate last quarter.
The Commerce Department’s second estimate of growth last quarter marked a slight acceleration from a 2% annual growth rate from January through March.
Though the economy has been slowed by the Federal Reserve’s strenuous drive to tame inflation with interest rate hikes, it has managed to keep expanding, with employers still hiring and consumers still spending.
