US GDP growth revised down in second quarter

(Sharecast News) - US economic growth was less than expected in the second quarter of 2023, official revised estimates out on Wednesday showed. US gross domestic product expanded by just 2.1% between April and June, compared with an initial estimate of 2.4% growth, according to the Bureau of Economic Analysis.

"The updated estimates primarily reflected downward revisions to private inventory investment and non-residential fixed investment," a statement from the BEA said.