**[Strong Economic Growth in the U.S. Second Quarter, Consumer Spending and Business Equipment Investment Remain Resilient]**
BlockBeats News, September 25 — The U.S. economy grew at its fastest pace in nearly two years during the second quarter, with the government revising upward its previous estimates for consumer spending. A report released on Thursday showed that the inflation-adjusted U.S. GDP grew at an annualized rate of 3.8% after revisions, stronger than the previously reported 3.3% growth, while the first quarter saw a complete contraction. The data indicates that annual revisions were relatively minor, with real GDP growing at an average annual rate of 2.4% from 2019 to 2024. This paints a picture of the economy quickly rebounding from the initial shock of the pandemic and transitioning into a more stable trend growth period, despite persistent inflation.
The latest quarterly GDP data confirms that after a sharp surge in imports earlier this year, the U.S. economy rebounded in the second quarter. The third-quarter economy also appears robust, with recent reports showing resilience in both consumer spending and business equipment investment. Economists expect the personal consumption expenditure data for August, scheduled for release on Friday, to show a year-over-year increase of nearly 3%. (Jin10)