Q2 GDP Revised to +4.6%

This morning, the government revised second-quarter GDP growth up to 4.6%. This means that last quarter was the best for economic growth since the first quarter of 2006. This was a revision up from the previous report which had Q2 growth of 4.2%.

The final upward revision reflected new-found strength in business investment, which grew at an annual rate of 9.7 percent in the second quarter. The result is better than the government’s previous estimate of 8.1 percent, bolstered by both investment in structures and equipment.

The revision showed that export sales grew at an 11.1 percent rate in the second quarter, stronger than a previous 10.1 percent estimate, another factor helping to boost growth.

Consumer spending, which accounts for more than two-thirds of economic activity grew at a 2.5 percent annual rate, unchanged from the previous estimate but double the 1.2 percent growth in consumer spending in the first quarter.


Posted by on September 26th, 2014 at 8:52 am

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