The U.S. economy expanded at a faster pace than previously reported in the second quarter, with gross domestic product rising at a 3.3% annualised rate, the Commerce Department’s revised estimate showed. The upgrade from 3.0% reflects firmer business investment and inventory building, while personal consumption grew 1.6%. Inflation gauges remained contained as the GDP price index held at 2.0% and the core PCE price index stayed at 2.5%. India also surprised on the upside: official data put April-June GDP growth at 7.8% from a year earlier, surpassing the 6.6% consensus and edging up from 7.4% in the prior quarter. The performance gives New Delhi additional room to maintain its public-investment push even as higher U.S. tariffs weigh on export prospects. In Australia, Reserve Bank figures showed private-sector credit rising 0.7% in July, topping forecasts of 0.6% and lifting the annual growth rate to 7.2% from 6.8%. The uptick was led by business borrowing, offering tentative support for the central bank’s view that domestic demand remains resilient despite higher interest rates. Europe’s largest consumer market delivered more subdued readings. France’s statistics agency confirmed second-quarter GDP growth at 0.3% quarter-on-quarter, while preliminary data for July pointed to softer inflation: headline CPI eased to 0.9% on an annual basis and the EU-harmonised measure dipped to 0.8%. Household spending fell 0.3% from June, underscoring the fragile nature of the recovery.
India's GDP is estimated to have grown by 7.8% in the first quarter (April–June) of the financial year 2025-26 (FY26), according to data released by the MoSPI on Friday. Details https://t.co/0IuJHdMP7L #IndiaGDP #GDP #GDPGrowth #IndianEconomy | @RishikagarwaI
India's economy grows 7.8% in April-June quarter, beats forecasts https://t.co/fpY7IE3825 https://t.co/fpY7IE3825
Real GDP has been estimated to grow by 7.8% in Q1 of FY 2025-26 over the growth rate of 6.5% during Q1 of FY 2024-25.