The latest economic numbers are giving Americans and Wall Street plenty to talk about.
The U.S. economy performed substantially better during the second quarter than earlier government estimates suggested, with newly revised data showing that economic activity expanded at a 2.2% annualized rate from April through June.
That figure represents a significant upgrade from the Commerce Department’s previous estimate of 1.5%. It also came in stronger than many economists had anticipated, underscoring the resilience of the American economy despite elevated energy costs, inflation concerns and higher borrowing costs.
The revised report provides a much different picture of the spring economy than the initial numbers did.
