US economy continuing to expand at a solid pace (Il Sole 24 Ore Radiocor) - 09 Jul - Powell said recent indicators suggested the US economy was continuing to expand at a solid pace.

Gross domestic product growth appears to have moderated in the first half of this year following impressive strength in the second half of last year, he said.

"Private domestic demand remains robust, however, with slower but still-solid increases in consumer spending. We have also seen moderate growth in capital spending and a pickup in residential investment so far this year. Improving supply conditions have supported resilient demand and the strong performance of the US economy over the past year.

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(RADIOCOR) 09-07-24 16:33:59 (0472) 5 NNNN