U.S. GDP Rebounds as Consumer Spending Accelerates
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BTCCSquare news:
U.S. economic growth is staging a recovery, fueled by resilient consumer spending that ROSE 0.5% month-over-month in July—the strongest gain in four months. The rebound follows a revised 0.4% increase in June, underscoring sustained demand despite macroeconomic headwinds.
Goods and services expenditures surged by $108.9 billion, with motor vehicles leading at $34.9 billion. Second-quarter GDP estimates were revised upward to 3.3%, while wage growth continues to support spending despite corporate caution over tariff-related costs.
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