US: Annual GDP expanded by 2% in second quarter as expected

Real economy expanded 2% in the United States as expected.
US Dollar Index inched lower with the initial market reaction.

Eren Sengezer FXStreet

In its third estimate on Thursday, the United States (US) Bureau of Economic Analysis (BEA) reported that the real gross domestic product (GDP) in the second quarter expanded by 2% to match analysts' expectation and the previous estimate.

"Downward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment were primarily offset by upward revisions to state and local government spending and exports," the BEA said in its official press release.

"Imports, which are a subtraction in the calculation of GDP, were revised down."

The US Dollar Index eased from its session highs on the GDP report and was last virtually unchanged on the day at 99.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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