The numbers: The U.S. economy grew at a 2.4% annual pace in the second quarter running from April to June, propelled by strong consumer spending and a rebound in business investment.
Consumer spending, the main engine of U.S. growth, rose at a 1.6% pace, the government said Thursday. GDP also got a lift from corporate spending on equipment and structures such as oil rigs and new manufacturing plants. Big picture: GDP is mostly a look in the rear-view mirror, but what it shows is that the U.S. economy has faced fewer roadblocks than expected.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: