Market Commentary and Intraday News
U.S. GDP Grew Much Less Than Estimated In Q2
265 days ago
(RTTNews) - With private inventory investment, consumer spending, and exports all rising by less than previously estimated, the Commerce Department released a report on Thursday showing that the U.S. economy expanded by less than previously reported in the second quarter.
The report showed that U.S. gross domestic product increased at an annual rate of 1.3 percent in the second quarter compared to the previous estimate of 1.7 percent growth.
The downward revision came as a surprise to economists, who had expected the rate of second quarter GDP growth to be unrevised.
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