US Q2 economic growth revised higher

30th Sep 2026 14:23

(Sharecast News) - US economic growth was revised higher in the second quarter, according to the Commerce Department, with GDP now estimated to have risen at an annualised 2.2% pace, supported by firm consumer spending and continued business investment tied to AI‑related infrastructure.

Q2's reading was lifted from the previously reported 1.5% pace, while first‑quarter growth was also revised up to 2.5% from 2.1%. The BEA said updated data back to 2021 showed the economy holding up despite headwinds from the US‑Israeli conflict with Iran, helped by strong corporate investment and tax‑refund‑supported household spending.

Consumer expenditure grew at a 3.8% rate last quarter, up from the earlier 3.4% estimate, though households have faced mounting pressure from higher inflation, particularly petrol prices.

Domestic demand remained firm, with final sales to private domestic purchasers rising 4.6%, while business spending on equipment maintained double‑digit growth.

Measured from the income side, the economy expanded at a 2.6% rate, reflecting strong corporate profits.

Reporting by Iain Gilbert at Sharecast.com