Economic Update: U.S. GDP
The government’s second estimate to the nation’s GDP for the second quarter of 2015 showed growth was more substantial than previously indicated.
The second estimate for Q2 GDP growth rate was reported at +3.7%, which was above analyst expectations for a rate of +3.2%, and well above the first estimate of growth at +2.3%.
Consumer spending, which is a closely watched measure of consumer activity, was revised higher and reported to have gained +3.1% on an annual basis.
On the inflation front, the PCE Price Index rose at a 2.2% annual rate, which was above the Q1 rate of 1.9% but unchanged since the first estimate.
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