Will the US Economy Be Able to Sustain Robust Growth the Rest of 2024? [Video]

The U.S. economy grew far more than expected in the second quarter, at a pace that economists don’t believe is sustainable in the second half of the year.

Gross domestic product, a measure of the economy’s output, grew at an annual rate of 2.8% in the second quarter, according to new data released Thursday by the Bureau of Economic Analysis. Remarkably, that number was double the annual rate in the first quarter.

The growth was fueled by consumers who continued to spend, businesses that increased investments and a government that boosted expenditures. Economists say it can’t last.

“We think Q2 will end up being the best quarter for the economy this year,” wrote Nationwide Economist Oren Klachkin. “We should receive cooler GDP reports from here on out.”

So far in the early parts of the third quarter, evidence has been mounting that economic growth is slowing.

“Earnings reports have been lackluster so far this earnings season, consumers are …