US economic growth for last quarter is revised down to a 2.1% annual rate
On Wednesday, the government revised its previous estimate and stated that the U.S. economy grew by 2.1% annually from April to June.
This indicates the economy’s ongoing resilience despite increased borrowing costs for both consumers and businesses. Initially, the government had assessed the growth rate at 2.4% for the last quarter.
The Commerce Department’s second assessment of the previous quarter’s growth reveals a slight acceleration compared to the 2% annual growth rate experienced from January to March, the Associated Press has reported.
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