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- U.S. economy rise more than expected in Q2
U.S. economy rise more than expected in Q2
The Commerce
Department released on Friday its "advance" estimate for the U.S.
gross domestic product (GDP) for the second quarter of 2019, which revealed the
U.S. economy grew more than expected in the reviewed period.
According to
the estimate, the U.S. real GDP increased at an annual rate of 2.1 percent
q-o-q last quarter, after rising by 3.1 percent q-o-q in the first quarter of
2019.
Economists had
expected GDP to boost by 1.8 percent.
According to
the report, the gain in real GDP in the second quarter reflected positive
contributions from personal consumption expenditures (PCE), federal government
spending, and state and local government spending that, however, were partly
offset by negative contributions from private inventory investment, exports,
nonresidential fixed investment and residential fixed investment. Imports,
which are a subtraction in the calculation of GDP, rose.
At the same
time, the acceleration in real GDP growth in the second quarter reflected
downturns in inventory investment, exports, and nonresidential fixed
investment, which were partly offset by accelerations in PCE and federal
government spending.
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