Consumer and Business Spending <br />Buoys US Economy for Q2 For the second quarter of 2019, the <br />U.S. Commerce Department says <br />the economy's rate increased 2.1%. That's a drop from the 3.1% growth recorded <br />the first quarter of this current year. Despite the fall, the 2.1% bump is more <br />than what economists had expected for Q2. According to CNN Business, second quarter growth was supported by strong consumer spending and government spending. Ameriprise Financial's Russell Price, <br />via CNN Business But some of the reasons for Q2's drop include falling investment in the U.S. housing market. Spending on work structures like <br />offices and power plants also <br />fell over 10% from the first quarter. In addition, U.S. exports dropped <br />just over 5% from 2019's Q1. With the 2.1% growth still beating economic expectations, it remains to be seen whether or not the Federal Reserve ushers in cuts <br />for interest rates.
