US Real GDP Increases at an Annual Rate of 2.2% in Q2, BEA Reports in Its “Third” Estimate
On Wednesday, the Bureau of Economic Analysis (BEA) released its “third” estimate for Q2 real gross domestic product (GDP), reporting that GDP increased at an annual rate of 2.2%. In Q1, real GDP increased 2.5%.
The change in Q2 GDP primarily reflected increases in consumer spending, investment, and exports. Imports, which are a subtraction in the calculation of GDP, also increased.
The latest estimate revised GDP up 0.7 percentage point from the “second” estimate, primarily reflecting upward revisions to investment, consumer spending, and government spending.
The “advance” estimate for Q3 will be released on October 29.
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