The U.S. economy maintained a fairly strong pace of growth in the second quarter, the government confirmed on Thursday, and appears to have gathered momentum this quarter amid a resilient labor market.
Gross domestic product increased at an unrevised 2.1% annualized rate last quarter, the Commerce Department said in its third estimate of GDP for the April-June period on Thursday.Growth for the first quarter was revised up to a 2.2% rate from the previously reported 2.0% pace.
The government also introduced new price measures, the personal consumption expenditures price index excluding food, energy and housing, and PCE services excluding energy and housing, or the so-called super core inflation. But a looming government shutdown amid bitter infighting among Republicans in the U.S. House of Representatives over spending could sap momentum in the fourth quarter.
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