US GDP grew 6.5% in Q2, well below expectations
(VOVWORLD) - The US economy in the second quarter expanded 6.5%, a slower rate than expected but still at its fastest pace since last fall, according to the US Bureau of Economic Analysis.
 Illustrative photo by Bloomberg |
Economists said the growth will continue until the end of this year, as the government’s big economic recovery package and vaccination campaign have boosted consumer spending and tourism.
Since the pandemic began, the US government has spent nearly 6 trillion USD to reduce its economic impact. Nearly 50% of the US population has been vaccinated.
The US Department of Labor announced that the number of new jobless claims slightly decreased last week and requests for pandemic support fell sharply. The US economy is expected to grow 7% this year.