Q2 GDP Rose 2.6%, According to Advance Estimate

Washington, DC, July 31, 2017-Real gross domestic product increased at an annual rate of 2.6% in the second quarter of 2017, according to the advance estimate released by the Bureau of Economic Analysis.

In the first quarter, real GDP increased 1.2%.

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 second estimate for the second quarter, based on more complete data, will be released on August 30, 2017.

The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, and federal government spending that were partly offset by negative contributions from private residential fixed investment,private inventory investment, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.