Consumer spending keeps economy abuzz

The U.S. economy continues to grow, even with higher interest rates enacted by the Federal Reserve. Consumer spending accounts for much of the economy.

By

National News

August 30, 2023 - 1:33 PM

The U.S. economy grew at a 2.1% rate last quarter. Photo by PIXABAY.COM

WASHINGTON (AP) — The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said Wednesday in a downgrade from its initial estimate.

The government had previously estimated that the economy expanded at a

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