403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
US Economy Grows 3.8 Percent in Q2
(MENAFN) The United States economy grew by 3.8% quarter-over-quarter in the second quarter of the year, surpassing the earlier estimate of 3.3%, according to official figures released by the Bureau of Economic Analysis on Thursday.
The rise in real gross domestic product (GDP) during the second quarter mainly reflected a reduction in imports, which are deducted from GDP calculations, alongside an increase in consumer expenditures, the bureau reported.
"These movements were partly offset by decreases in investment and exports," it added.
The revised GDP growth estimate for the second quarter stood at 3.3%, while the contraction in GDP for the first quarter of 2025 was adjusted downward to 0.6%.
The 0.5 percentage point increase in GDP growth from the initial projections was chiefly due to an upward adjustment in consumer spending.
Real final sales to private domestic buyers, combining consumer spending and gross private fixed investment, rose 2.9% in the second quarter, marking a 1 percentage-point increase from previous estimates.
"From an industry perspective, the increase in real GDP reflected increases of 10.2% in real value added for private goods-producing industries and 3.5% for private services-producing industries that were partly offset by a decrease of 3.2% in real value added for government," the bureau explained.
The rise in real gross domestic product (GDP) during the second quarter mainly reflected a reduction in imports, which are deducted from GDP calculations, alongside an increase in consumer expenditures, the bureau reported.
"These movements were partly offset by decreases in investment and exports," it added.
The revised GDP growth estimate for the second quarter stood at 3.3%, while the contraction in GDP for the first quarter of 2025 was adjusted downward to 0.6%.
The 0.5 percentage point increase in GDP growth from the initial projections was chiefly due to an upward adjustment in consumer spending.
Real final sales to private domestic buyers, combining consumer spending and gross private fixed investment, rose 2.9% in the second quarter, marking a 1 percentage-point increase from previous estimates.
"From an industry perspective, the increase in real GDP reflected increases of 10.2% in real value added for private goods-producing industries and 3.5% for private services-producing industries that were partly offset by a decrease of 3.2% in real value added for government," the bureau explained.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
More Story
Comments
No comment