The U.S. Department of Commerce revised economic growth data for the second quarter and reported that GDP grew by 3% year-on-year. Earlier it was reported an increase of 2.8%, which did not meet the expectations of experts. For comparison, GDP growth was 1.4% in the first quarter. Consumer spending, which accounts for two thirds of U.S. GDP, has become a key driver of growth. They increased by 2.9% (against a preliminary estimate of 2.3%). Government spending also contributed to the growth, which increased by 2.7% (an increase of 3.1% was previously reported). Business investments in fixed assets amounted to 4.6% (in a preliminary estimate — 5.2%). Exports increased by 1.6% (preliminary estimate — 2%), imports — by 7% (6.9%). US companies showed a 1.7% increase in corporate profits to $2.774 trillion after falling 2.7% a quarter earlier. There is also a positive trend in inflation. The PCE consumer price index for the second quarter was 2.5% (preliminary data — 3.4%). The core PCE Core index, which does not take into account food and energy prices, increased by 2.8% (the previous estimate was 3.7%). It is important to note that the data presented is the second estimate of the change in US GDP. The final data for the second quarter will be published on September 26.
RYCHLÉ ODKAZY
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