{"id":2016475,"date":"2023-08-30T08:41:02","date_gmt":"2023-08-30T12:41:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-revised-revised-down-to-2-1-annual-rate-in-second-quarter\/"},"modified":"2023-08-30T08:43:02","modified_gmt":"2023-08-30T12:43:02","slug":"gdp-revised-revised-down-to-2-1-annual-rate-in-second-quarter","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-revised-revised-down-to-2-1-annual-rate-in-second-quarter\/","title":{"rendered":"GDP downgraded to 2.1% annual rate in Q2."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><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-revised-revised-down-to-2-1-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=2016475&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 Remains Strong Despite Interest Rate Hikes<\/h2>\n<p>The latest update\u200c on\u200c the US\u2062 economy\u2063 reveals\u200c that \u2063economic growth increased at a 2.1% annual rate\u2062 in the second\u2062 quarter of\u200d this year. Although this \u200cis a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdp-revised-revised-down-to-2-1-annual-rate-in-second-quarter\/\" title=\"GDP downgraded to 2.1% annual rate in Q2.\">slight downward revision<\/a> from the preliminary estimate, it still indicates \u200cthat\u200b the economy has remained robust.<\/p>\n<p>The report shows that consumer spending, measured by personal\u2064 consumption expenditures, increased in \u2064the second quarter. This is a positive sign that \u200dUS economic \u200bactivity\u2062 is \u2063still thriving, even as the Federal Reserve continues to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morgan-stanley-threat-of-high-inflation-is-real\/\" title=\"Morgan Stanley: Threat of high inflation is real\">raise interest rates<\/a> \u2063in \u2063response to\u2062 inflation.<\/p>\n<p>After a \u200cseries of \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-chair-no-interest-rate-hikes-until-inflation-spike\/\" title=\"Federal Reserve Chair: No interest rate hikes until inflation spike\">interest rate hikes<\/a> over the \u2064past \u200dyear, the Fed\u2063 recently raised rates again, bringing its target range\u2062 to \u200c5.25% \u200dto 5.50% &#8211; the highest level\u200c in over two decades. While rate increases \u2062can slow economic output, \u200dthe fact that GDP growth has \u2064remained positive in both \u2063the first \u2063and second quarters is welcome \u200dnews to\u2062 economists.<\/p>\n<h3>Inflation Slows Down<\/h3>\n<p>In addition to the positive GDP\u200c growth, inflation has\u2062 also been slowing down. According to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manchin-every-senator-thinks-minimum-wage-should-be-increased\/\" title=\"Manchin: Every Senator Thinks Minimum Wage Should Be Increased\">consumer price index<\/a>, \u2062inflation was at a 3.2% annual pace in July. However, the Fed has made it clear \u2062that\u2064 taming inflation is their top priority and\u2064 they\u2064 are open \u200cto further rate increases if necessary.<\/p>\n<p>Last week,\u200d Federal \u200bReserve Chairman\u200d Jerome Powell hinted at the \u200dpossibility of more tightening measures in his\u200b annual\u2062 Jackson Hole speech.\u200d He \u2063emphasized\u200b the need \u200bto carefully \u2062assess the data and \u2064outlook before deciding on the next \u2064steps.<\/p>\n<h3>Labor Market \u200bHolds Steady<\/h3>\n<p>Despite\u200b the interest rate hikes, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/goldman-slashes-recession-forecast-again-amid-slowing-inflation\/\" title=\"Goldman reduces recession forecast once more due to sluggish inflation.\">labor \u200dmarket<\/a> has held up\u2062 remarkably well. However, there have been\u200d some signs of softening, as seen in the recent \u200cdecrease in job openings\u200d to the lowest level in \u200cover\u200c two years.<\/p>\n<p>The next\u200b employment report, \u2062which measures the performance of the job \u2064market in August,\u200d is set to be released on Friday morning.<\/p>\n<p>Overall,\u200b the US economy continues to show resilience and strength, even in the face of\u200b tightening monetary \u2063policy. It will be interesting to see how these factors evolve\u200b in\u200b the coming\u2064 months\u200b and how they\u200d will \u2063impact \u2063the\u2062 future \u2062of the economy.<\/p>\n<blockquote><p>Source: <a href=\"https:\/\/www.washingtonexaminer.com\">The Washington Examiner<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Economic growth in the second quarter of this year rose by 2.1%, slightly lower than the initial estimate. The second update, out of three, reveals that GDP growth surpassed the previous quarter&#8217;s 2% rate. This indicates a resilient economy, unaffected by the Federal Reserve&#8217;s ongoing actions.<\/p>\n","protected":false},"author":1,"featured_media":2016476,"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-2016475","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\/2016475","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=2016475"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016475\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2016476"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2016475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2016475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2016475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}