U.S. economy expands, Starbucks slims down
INDIANAPOLIS (WISH) — The U.S. economy grew faster than first thought in the spring, fueled by resilient consumer spending and business investment, though signs of slowing momentum are beginning to surface.
The Commerce Department said Thursday that gross domestic product expanded at an annualized 3.8% rate in the second quarter, the strongest pace in nearly two years. That’s an upward revision from the 3.3% initially reported.
Economists had expected no change, but stronger household purchases and corporate outlays — including a surge in artificial intelligence-related equipment — boosted the numbers. A sharp narrowing of the nation’s trade deficit also contributed, as imports dropped following a record surge earlier in the year…