Economic growth in the U.S. accelerated by more than expected in the second quarter of 2024, according to a report released by the Commerce Department on Thursday.
The report said real gross domestic product surged by 2.8 percent in the second quarter after jumping by 1.4 percent in the first quarter. Economists had expected GDP to increase by 2.0 percent.
The Commerce Department said the GDP growth primarily reflected increases in consumer spending, private inventory investment, and nonresidential fixed investment.
For comments and feedback contact: editorial@rttnews.com
Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.