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, BEA

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.