US GDP grows 2.1% in the second quarter

The government said in its third GDP estimate that the gross domestic product in the United States rose at an unadjusted annual rate of 2.1% in the second quarter of the current year, and consumer spending grew by 0.8% instead of the previously announced 1.7%.

The growth rate in the first quarter rose to 2.2% compared to the previous reading of 2.0%, and the price index for personal consumption expenditures (PCE) excluding food and energy rose at a rate of 3.7%, unchanged in the second quarter.

The government revised GDP data from 2017, and the economic picture changed little from 2017 to 2022, with GDP growing at an average annual rate of 2.2%, up from the pace of previous estimates of 2.1%.

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