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U.S. Economy Grew 1.4% in Second Quarter
The American economy expanded 1.4% in the second quarter of 2016, up from a previous estimate of 1.1%, according to the U.S. Bureau of Economic Analysis.
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The American economy expanded 1.4% in the second quarter of 2016, up from a previous estimate of 1.1%, according to the U.S. Bureau of Economic Analysis. Growth was 0.8% in the first quarter.
In current dollars, GDP rose 3.7% to $18.5 trillion in the second quarter. That compares with 1.3% growth in this year’s first quarter.
BEA says the upward revision reflects stronger fixed business investment than estimated previously. The uptick also reflects more exports and consumer spending. The bureau says the price index for gross domestic purchases climbed 2.1% in the second quarter compared with 0.2% in January-March.
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