US Second Quarter Growth Data Revised Up to 2.2 Percent
The US Department of Commerce released the final GDP data for the second quarter of this year and revised previous estimates upward.
According to the final data released by the US Department of Commerce, real GDP growth in the second quarter of the year was revised up to an annualized rate of 2.2 percent.
Final Growth Rate
The US Department of Commerce shared the final Gross Domestic Product data estimate for the April-June period with the public. Accordingly, US real GDP increased at an annualized rate of 2.2 percent in the second quarter of this year.
In the preliminary estimate in July and the second estimate in August, the economy was projected to grow by 1.5 percent, thus the rate was revised upward.
Details of Growth
The country's economy had recorded a growth rate of 2.5 percent in the first quarter of this year. Consumer expenditures, investments, and exports played a role in the growth during the second quarter.
Reasons for Revision
Upward updates in investments, consumer expenditures, and government spending were decisive in the upward revision of the second quarter growth data.
Foreign Trade Deficit
The US merchandise trade deficit widened unexpectedly in August as imports increased, rising 11.5 percent to $132.6 billion, reaching its highest level since early 2025.