Economic growth in the US was stronger than expected in the second quarter of 2023, as activity proved resilient in the face of the Federal Reserve’s campaign of aggressive interest rate rises.
The world’s largest economy grew 2.4 per cent on an annualised basis between April and June, according to preliminary figures released by the Department of Commerce on Thursday.
That marked an acceleration from a 2 per cent growth rate in the first quarter, and was well above the 1.8 per cent rate predicted by economists.
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