US economic growth for last quarter is revised down to a 2.1% annual rate

On Wednesday, the government revised its previous estimate and stated that the U.S. economy grew by 2.1% annually from April to June.

This indicates the economy’s ongoing resilience despite increased borrowing costs for both consumers and businesses. Initially, the government had assessed the growth rate at 2.4% for the last quarter.

The Commerce Department’s second assessment of the previous quarter’s growth reveals a slight acceleration compared to the 2% annual growth rate experienced from January to March, the Associated Press has reported.

READ MORE: https://apnews.com/article/economy-gdp-inflation-federal-reserve-jobs-growth-8934ebcac23acdfef69089db2942f6d6

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