Strong Domestic Demand Drives US Q2 Growth Despite Import Drag
The US economy grew at a 2.8% annualized rate in the second quarter, exceeding expectations. While heavy imports acted as a drag on the final GDP figure, domestic demand remained remarkably robust. Consumer spending, particularly on goods and services, provided a significant boost. Inflation showed signs of cooling, which strengthens the case for the Federal Reserve to consider interest rate cuts in the coming months. Overall, the report suggests a resilient economy transitioning toward a more sustainable growth path.
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ITC Q1 Profit Drops 27% Amid High Taxes and West Asia Crisis Impact
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