US economy grows at annualized pace of 2.3% in second quarter
July 31 , 2015
The US economy expanded at an annualized rate of 2.3% in the second quarter, according to official data. This follows a 0.6% upward revision of the growth rate for the January-to-March period.
Cheaper fuel prices and an increase in consumer spending have contributed to the growth, the US Commerce Department said. Consumer spending grew at a pace of 2.9% in the three months to June from the 1.8% of the first quarter, the figures reveal.