US GDP in the second quarter grew at its fastest pace in nearly two years, with a 3.8% increase. Consumer spending was the core driving force.

According to the Wise Finance and Economics App, the US government has increased its previous estimate of consumer spending, and the US economy recorded its fastest growth in nearly two years in the second quarter. The latest report released by the US Bureau of Economic Analysis on Thursday shows that the seasonally adjusted annualized GDP growth rate for the US in the second quarter was revised up to 3.8%, higher than the previous preliminary estimate of 3.3%, while GDP in the first quarter had contracted. This data reflects changes in the value of goods and services produced in the US.