US: Real gross domestic product increased at an annualized rate of 4.2% in Q2 2018
|According to the "second" estimate released by the Bureau of Economic Analysis this Wednesday, the US real gross domestic product increased at an annual rate of 4.2% in the second quarter of 2018, better than 4.1% originally estimated and 4.0% consensus forecast.
Key highlights from the official publication
• The acceleration in real GDP growth in the second quarter reflected accelerations in PCE, exports, federal government spending, and state and local government spending, as well as a smaller decrease in residential fixed investment.
• Current‑dollar GDP increased 7.6 percent, or $370.9 billion, in the second quarter to a level of $20.41 trillion.
• The price index for gross domestic purchases increased 2.3 percent in the second quarter, compared with an increase of 2.5 percent in the first quarter.
• The PCE price index increased 1.9 percent, compared with an increase of 2.5 percent. Excluding food and energy prices, the PCE price index increased 2.0 percent, compared with an increase of 2.2 percent.
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