Q2 GDP Increased 4.1%, According to Second Estimate
Washington, DC, July 27, 2018-Real gross domestic product increased at an annual rate of 4.1% in the second quarter of 2018, according to the advance estimate released by the Bureau of Economic Analysis.
In the first quarter, real GDP increased 2.2%.
The Bureau emphasized that the second-quarter advance estimate is based on source data that are incomplete or subject to further revision by the source agency.
The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, nonresidential fixed investment, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.
This is the best quarterly performance in almost four years. GDP rose to over 5% in the 3rd quarter of 2014.