The U.S. economy saw a strong rise in the second quarter, with consumer spending and business equipment expenditures remaining resilient.

Jin10 data reported on September 25, the U.S. economy grew at its fastest pace in nearly two years in the second quarter, with the government also raising its previous estimates for consumer spending. A report released by the U.S. on Thursday showed that the inflation-adjusted U.S. GDP grew at an annualized rate of 3.8% after revision, which is stronger than the previously reported growth of 3.3%, while the first quarter saw a complete contraction. Data shows that the annual revisions are relatively small, with real GDP still growing at an average annual rate of 2.4% from 2019 to 2024, painting a picture of the economy rapidly rebounding from the initial shock of the pandemic, transitioning to a more stable trend growth period, despite persistent inflation. The latest quarterly GDP data confirms that after a significant surge in imports at the beginning of this year, the U.S. economy rebounded in the second quarter. The economy in the third quarter also looks robust, with recent reports indicating that consumer spending and business equipment spending are both resilient. Economists expect that the personal consumption expenditure data for August, due to be released on Friday, will show a nearly 3% increase compared to the same period last year.