US economy grew a solid 2.2% in the second quarter, government says, upgrading previous estimate - AP News — SkimNews
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- US economy grew 2.2% in the second quarter, the government said in its revised estimate, upgrading the previous reading.
- The revision came in higher than initial estimates, with CNN reporting the spring growth figure exceeded prior government projections.
- Consumer spending drove the upward revision, described as robust and cited as the key factor behind the stronger-than-expected print.
- Inflation figures released alongside the GDP data showed signs of an economic pickup, per WSJ's framing of the combined report.
- AP News headlined the result as "solid" growth, underscoring the upgrade from the earlier estimate as the lede of the revision.
Why it matters: An upward revision to 2.2% GDP growth — driven by robust consumer spending — gives the White House and consumers a stronger-than-expected spring economy to point to, and it pairs with inflation figures that WSJ reads as signs of a genuine pickup rather than a slowdown.
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