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BEA: US Beats Q2 2015 GDP Advance Estimate, Posts 3.7% Growth

BEA: US Beats Q2 2015 GDP Advance Estimate, Posts 3.7% Growth - top government contractors - best government contracting event

charts collageThe 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.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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