Recession worries delayed!
GDP (QoQ annualized): 2.4%, vs. 1.8% expected, from 2.0% in the prior period.
GDP price index: 2.2%,
vs. 3.0%, from 4.1%. - Reuters
The U.S. economy continues to surprise to the upside, having quickly recovered from Covid and now avoiding a recession, even with higher rates. Damn.
In Q2, GDP growth was led by business investment and consumer spending in services.