Economic TimesLean R·
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 quarte…
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