US economy expands 2.1% in 2nd quarter, final reading shows

ISTANBUL

The US economy expanded 2.1% in the second quarter of 2023, according to the Commerce Department's third and final reading released on Thursday.

The figure came in line with market expectations, while the first reading had shown a 2.4% increase and the second reading showed a 2.1% gain in the gross domestic product.

The US economy grew 2% in the first quarter of this year.

The current dollar GDP jumped 3.8%, or $249.4 billion, at an annual rate, in the second quarter to reach $27.06 trillion, the Commerce Department said in a statement.

The current dollar personal income climbed $239.6 billion in the second quarter, an upward revision from a previous estimate of $232.1 billion, it added.

Personal saving was $1.04 trillion in the second quarter, also an upward revision from an earlier estimate of $892.3 billion, according to the agency.

ISTANBUL

The US economy expanded 2.1% in the second quarter of 2023, according to the Commerce Department's third and final reading released on Thursday.

The figure came in line with market expectations, while the first reading had shown a 2.4% increase and the second reading showed a 2.1% gain in the gross domestic product.

The US economy grew 2% in the first quarter of this year.

The current dollar GDP jumped 3.8%, or $249.4 billion, at an annual rate, in the second quarter to reach $27.06 trillion, the Commerce Department said in a statement.

The current dollar personal income climbed $239.6 billion in the second quarter, an upward revision from a previous estimate of $232.1 billion, it added.

Personal saving was $1.04 trillion in the second quarter, also an upward revision from an earlier estimate of $892.3 billion, according to the agency.