The US economy grew faster than analysts had predicted, boosted by strong consumer spending and a drop in imports.
GDP rose by 3.8% at an annualised rate between April and June, compared with forecasts of 3.3%. While economists say the American economy remains resilient, several uncertainties still hang over the outlook.
Consumer spending increased by 2.5% in the year to the end of June 2024, compared with an initial estimate of 1.6%.
In the first three months of the year, growth stagnated at 0.6% as companies rushed to import goods before the Trump administration’s new tariffs came into effect.
Retail sales rose by 0.6% in August, the Commerce Department reported last week.
