WASHINGTON (Reuters) – The U.S. economy grew faster than expected in the second quarter, but inflation eased and expectations of a September interest rate cut by the Federal Reserve remained unaffected.
Gross domestic product rose an annualized 2.8% last quarter, the Commerce Department’s Bureau of Economic Analysis said Thursday in its second-quarter preliminary GDP estimate. Economists polled by Reuters had forecast GDP growth of 2.0%. Estimates ranged from a 1.1% to 3.4% pace. The economy grew at a rate of 1.4% in the first quarter.
