Washington | US economic growth accelerated by more than forecast in the second quarter, illustrating demand is holding up under the weight of higher borrowing costs.
Gross domestic product increased at a 2.8 per cent annualised rate in the April-June period after rising 1.4 per cent in the previous quarter, the government’s initial estimate showed. The economy’s main growth engine – personal spending – advanced 2.3 per cent, also more than projected.
