The US economy grew at an annual rate of 6.5% in the second quarter

The US economy in the second quarter expanded at a slower rate than expected but still at its fastest pace since last fall, growing at a seasonally adjusted, annualized rate of 6.5%.

In terms of real gross domestic product — the broadest measure of economic activity — the economy has now recovered in that has grown bigger than its pre-pandemic size. It was a worse performance than expected, as economists had forecast an annualized growth rate of 8.5%, and it was also little changed from the first quarter when the economy grew at an annual rate of 6.3%.