The Commerce Department revealed Thursday that the U.S. economy picked up speed in its second quarter growth and, thanks to a revision of the first quarter GDP growth, was found to have grown in the year's first quarter. Previously, first quarter GDP was shown to have shrunk at a 0.2 percent rate, but revisions reveal that it actually grew at a 0.6 percent rate.
Although second quarter growth rates fell slightly below economists' expectations of a 2.6 percent growth rate, these incremental gains bolster the Federal Reserve's notion that the U.S. economy is, indeed, steadily on the rise.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
How the One Piece manga flag became a Gen Z resistance symbolThe Explainer Straw-hat skull seen at protests in Indonesia, Nepal and France shows how young people are ‘reshaping the vocabulary of dissent’
-
Dive into Palau’s underwater wonderlandThe Week Recommends A luxury Four Seasons catamaran is the ideal jumping-off point for the reefs, wrecks and coral islands of this unspoilt archipelago
-
Sea Containers London: new suites bring maritime flair to SouthbankThe Week Recommends Four luxury suites inspired by the Golden Age of ocean liners are crammed with antiques that you can buy
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
