U.S. Economy Stronger Than Reported Through Second Quarter As Spending Rose
1. U.S. GDP grew 3.8% in Q2, exceeding forecasts and initial reports. 2. Consumer spending increased significantly, contributing to GDP growth revision. 3. Jobless claims fell to 218,000, below analysts' expectations. 4. Analysts view economic data as more positive compared to prior months. 5. Fed may cut rates further due to labor market concerns and inflation.