{"id":1983949,"date":"2023-07-27T09:09:06","date_gmt":"2023-07-27T13:09:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-growth-unexpectedly-ticks-up-to-2-4-annual-rate-in-second-quarter\/"},"modified":"2023-07-27T09:10:10","modified_gmt":"2023-07-27T13:10:10","slug":"gdp-growth-unexpectedly-ticks-up-to-2-4-annual-rate-in-second-quarter","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-growth-unexpectedly-ticks-up-to-2-4-annual-rate-in-second-quarter\/","title":{"rendered":"GDP growth unexpectedly rises to 2.4% in Q2."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgdp-growth-unexpectedly-ticks-up-to-2-4-annual-rate-in-second-quarter%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1983949&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Economic Growth Surpasses Expectations<\/h2>\n<p>Economic growth in the\u2064 United \u2064States unexpectedly \u200csurged to a 2.4%\u200c annual rate in the second quarter of this year, surpassing economists&#8217; predictions of a 1.7% rate. This positive news comes after the Federal Reserve&#8217;s efforts to combat inflation through interest\u200d rate hikes.<\/p>\n<h3>Positive Signs for \u2064the Economy<\/h3>\n<p>The\u200b Bureau of Economic Analysis released the first of\u2064 three estimates \u2062of GDP growth, adjusted for inflation, \u200din the second\u2063 quarter. This report indicates that the country is not currently facing an economic downturn or recession, as \u2064two consecutive quarters of negative GDP growth are typically indicative of such a situation.<\/p>\n<p>Inflation has\u200b been decreasing in response to the Federal \u2063Reserve&#8217;s tightening measures. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manchin-warns-about-record-inflation-inflation-tax-is-real\/\" title=\"Manchin Warns About Record Inflation: \u2018Inflation Tax is Real\u2019\">consumer price index showed<\/a> a 3% annual inflation rate in June, nearing the\u200b central bank&#8217;s 2% goal and significantly lower than the 9% rate seen last summer.<\/p>\n<p>Despite the rate hikes, the labor market has remained resilient. In June, the \u2063national economy added \u2063209,000 jobs, and the unemployment rate remains near its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/south-dakota-lowers-unemployment-to-pre-pandemic-levels-after-state-rejected-lockdowns\/\" title=\"South Dakota Lowers Unemployment to Pre-Pandemic Levels After State Rejected Lockdowns\">pre-pandemic level<\/a> at 3.7%.<\/p>\n<h3>Hope for a &#8220;Soft Landing&#8221;<\/h3>\n<p>The positive GDP growth and strong labor market have raised hopes that the Federal Reserve will be able to achieve a &#8220;soft landing,&#8221; meaning a decrease in inflation without triggering a recession.\u2063 Fed Chairman Jerome Powell acknowledged this during a recent press conference, stating that while there is a projected slowdown in growth, a recession is no\u2062 longer expected.<\/p>\n<p>However, it is anticipated that GDP growth will slow in the coming year as the impact of the rate\u2062 hikes continues to affect the economy. The Congressional Budget Office\u200c predicts a 0.4% annual growth rate in\u2062 the second half of this year and a 0.9% \u2063increase \u200bfor\u2062 2023 as a whole. The CBO also \u2062forecasts a 1.5% increase in GDP in 2024 as the Federal Reserve eases monetary policy, although this is still below the trend.<\/p>\n<blockquote><p><strong>Senate Votes to Restrict\u200b China&#8217;s Purchase \u200bof US Farmland<\/strong><\/p><\/blockquote>\n<p>Overall, while the economy \u2062is currently showing positive signs, there are challenges ahead. The Federal Reserve&#8217;s actions and the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-growth-unexpectedly-ticks-up-to-2-4-annual-rate-in-second-quarter\/\" title=\"GDP growth unexpectedly rises to 2.4% in Q2.\">evolving economic landscape<\/a> will continue to shape the future of the country&#8217;s growth.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\">Click here<\/a> to read more from The Washington Examiner.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bureau of Economic Analysis reported a surprising rise in economic growth to 2.4% annually in Q2, surpassing expectations of 1.7%. This is an improvement from the previous quarter&#8217;s 2% growth. The report is the initial of three estimates for Q2 GDP growth, adjusted for inflation.<\/p>\n","protected":false},"author":1,"featured_media":1983950,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1983949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1983949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1983949"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1983949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1983950"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1983949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1983949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1983949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}