- BIST10011,722-2.89%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,181.10+0.26%
- INTEREST37.00%-1.00
- BITCOIN81,450-0.06%
- October 17, 202614°
- BIST10011,722-2.89%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,181.10+0.26%
- INTEREST37.00%-1.00
- BITCOIN81,450-0.06%
- October 17, 202614°
U.S. economy grew 2.2% in the second quarter, beating forecasts
The U.S. Department of Commerce announced that real gross domestic product increased at an annualized rate of 2.2% in the April–June period. Growth previously projected at 1.5% was revised upward following increases in estimates for investment, consumer spending and government spending.
According to final data released by the U.S. Department of Commerce, the country's real gross domestic product (GDP) increased at an annualized rate of 2.2% in the second quarter.
Growth in the April–June period had been estimated at 1.5% in the advance estimate released in July and the second estimate announced in August. The rate was revised upward in the final calculation.
Consumer spending, investment and exports contributed to growth in the second quarter. The U.S. economy grew by 2.5% in the first quarter of the year.
Imports, which are recorded as a subtraction in GDP calculations, also increased in the second quarter. Upward revisions to investment, consumer spending and government spending were particularly influential in the final revision to the growth rate.
The increase in the price index for personal consumption expenditures was lowered from 5.3% to 5% for the second quarter. The index had risen by 4.2% in the first quarter of the year.
The increase in the core personal consumption expenditures price index, which excludes food and energy spending, was also revised from 3.6% to 3.3%. The index had risen by 3.9% in the first quarter of the year.
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