U.S. Economy Sees Modest Growth, Consumer Spending Increases in Spring Quarter
The U.S. economy expanded at an annual rate of 1.5% in the spring, according to the Commerce Department. This represented a slight slowdown from the previous quarter, but consumer spending showed an increase.
Washington, D.C. — The U.S. economy experienced an annual growth rate of 1.5% during the spring quarter, the Commerce Department announced. This figure indicates a modest deceleration compared to the economic growth observed in the preceding three-month period.
While the overall growth rate slowed, consumer spending intensified during April, May, and June. Americans continued their purchasing activities, contributing to the economic expansion.
Joe Raedle captured an image depicting consumer spending that continued to support the U.S. economy.
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