New York (CNN Business)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%.
It was a worse performance than expected, as economists had forecast an annualized growth rate of 8.5%, and little changed from the first quarter.
The acceleration in the recovery was spurred by the last round of stimulus checks, which boosted consumer spending, as well as the reopening of the economy and continued vaccination effort that allowed Americans to take part in public life safely again.
This is a developing story. It will be updated.