Washington | US economic growth moderated during the first half of the year, as consumers tempered their spending following a late 2024 splurge and companies adjusted to frequently shifting trade policy.
Inflation-adjusted gross domestic product, which measures the value of goods and services produced in the US, increased an annualised 3 per cent in the second quarter, according to preliminary government data out Wednesday. As solid as the pace was, economic growth averaged 1.25 per cent in the first half, a percentage point cooler than the pace for 2024.
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Bloomberg