The US economy recorded growth in line with estimates, expanding by 3 percent in the second quarter of the year. The US Department of Commerce released the final estimates for the gross domestic product (GDP) for the April-June period. According to the data, the US GDP grew at an annualized rate of 3 percent in the second quarter of this year. The initial data released in July for the country’s GDP showed a 2.8 percent growth in the first quarter of the year, while the second estimates published in August indicated a 3 percent growth. The country’s economy had shown a growth performance of 1.6 percent in the first quarter of 2024. The rise in consumer spending, private inventory investments, and non-residential fixed investments played a significant role in the growth of the US economy in the second quarter. The private inventory investment and federal government spending in the second quarter’s GDP were revised upwards, while non-residential fixed investment and exports were revised downwards. The increase in the price index of personal consumption expenditures reached 2.5 percent in the second quarter, aligning with the expectations. The price index of personal consumption expenditures had risen by 3.4 percent in the first quarter of the year. The increase in the core personal consumption expenditures price index, which excludes food and energy expenditures, was also maintained at 2.8 percent. The core personal consumption expenditures price index had recorded a 3.7 percent increase in the first quarter of the year.