US Economy Second Quarter Growth Data Unchanged in Second Estimate
According to data released by the US Department of Commerce, the country's economy grew at an annualized rate of 1.5 percent in the April-June period.
The US Department of Commerce shared its second estimate of the gross domestic product data for the April-June period with the public and did not revise the growth rate.
Growth Rate in the Second Quarter
According to the second estimate of the gross domestic product data published by the US Department of Commerce for the April-June period, the country's economy recorded an annualized growth rate of 1.5 percent.
Comparison with Preliminary Data
Preliminary data published last month had also projected that the US economy would grow by 1.5 percent in the second quarter of the year. The country's economy had recorded a growth of 2.1 percent in the first quarter of the previous year.
Factors Influencing Growth
Increases in consumer expenditures, exports, and investments were decisive in the country's economic growth performance in the second quarter of the year, while this was partially offset by the decline in government expenditures.
Revisions in Price Indices
The rate of increase recorded in the personal consumption expenditures price index in the second quarter of this year was revised upward from 5.1 percent to 5.3 percent.