Second-quarter US GDP growth revised up to 2.2% annualized, from 1.5%
Consumer spending and AI-driven business investment drove the upgrade; a surge in imports held it down.
Consumer spending grew 3.8% annualized, up from 0.7% in the first quarter, and imports rose 12.6%, which cut nearly 1.7 points off growth.
The rest of the numbers:
- Non-housing business investment grew 9% annualized, led by AI spending.
- The first third-quarter GDP estimate comes out Oct. 29.