Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeNewsEconomyU.S. economy expands 1.5% with spending, investment revised upGovernment spending declined an annualized one per cent in the second quarter, reflecting a steep dropAuthor of the article:U.S. consumer spending, which comprises more than two-thirds of economic activity, increased an annualized 3.4 per cent. Photo by Luke Sharrett/BloombergThe United States economy expanded at an unrevised 1.5 per cent pace in the second quarter, though underlying details showed stronger consumer spending and business investment than initially reported.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe annualized gain in inflation-adjusted gross domestic product compares with a 2.1 per cent advance in the first quarter, according to the second estimate issued Wednesday by the Bureau of Economic Analysis.Consumer spending, which comprises more than two-thirds of economic activity, increased an annualized 3.4 per cent, stronger than the initially estimated 3.2 per cent gain. Nonresidential fixed investment climbed at an 8.5 per cent pace.SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againA narrower gauge of underlying demand, final sales to private domestic purchasers, rose a revised 4.2 per cent in the second quarter — the strongest in more than three years and compared with an initial estimate of 3.9 per cent. The measure excludes net exports, inventories and government spending.Government spending declined an annualized one per cent in the second quarter, reflecting a steep drop in nondefence-related outlays.Meanwhile, the personal consumption expenditures price index minus food and energy was revised up to an annualized 3.6 per cent rate from 3.4 per cent. Separate data out Wednesday showed a 0.2 per cent increase in the so-called core PCE price gauge in July from the prior month.That report also showed no change in real consumer spending during the month after more robust increases in the prior two months. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.