The US economy grew by 4.1% in the second quarter

US GDP in the second quarter rose at a maximum rate since 2014 and increased by 4.1% in annual terms after an increase of 2.2% in the previous quarter, preliminary data from the Ministry of Commerce showed. The annual growth in consumer spending was 4% compared to an increase of 1.1% a quarter earlier. Consumer spending on durable goods increased by 9.3%, for services - by 3.1%. The contribution of foreign trade to the overall GDP growth has become the most significant for 5 years. Exports increased by 9.3% with an increase in imports of only 0.5%. The PCE Core index rose 2% after rising 2.2% in the first quarter. The business investment in fixed assets increased by 5.4%, expenses for equipment - by 3.9%.

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