Mary-Louise Hoffman
The U.S. Bureau of Economic Analysis has estimated the country’s real gross domestic product to have increased at a 3.7-percent annualized rate during the second quarter of calendar year 2015.
BEA said Thursday that figure beats the advance estimate of 2.3 percent the bureau released in July.
The bureau cites increases in personal consumption expenditures, state and local government spending, nonresidential and residential fixed investments, private inventory investment and exports as factors behind the GDP growth.
U.S. gross domestic income grew approximately 0.6 percent during the second quarter, compared with the 0.4 percent GDI gain recorded in the previous quarter, BEA noted.
BEA also observed a 3.4 increase in Q2 consumer spending on goods and services, compared with Q1’s 2.5 percent.
