US economy grows 3.3% in Q2 vs. 3.1% expected
- US GDP growth for the second quarter got revised higher.
- US Dollar Index stays in negative territory at around 98.00.
The United States' Gross Domestic Product expanded at an annual rate of 3.3% in the second quarter, the US Bureau of Economic Analysis (BEA) announced on Thursday. This print came in better than the initial estimate and the market expectation of 3% and 3.1%, respectively.
"Real GDP was revised up 0.3 percentage point from the advance estimate, primarily reflecting upward revisions to investment and consumer spending that were partly offset by a downward revision to government spending and an upward revision to imports," the BEA explained in its press release.
Market reaction
The US Dollar (USD) Index recovered slightly from session lows after the GDP report. At the time of press, the USD Index was down 0.2% on the day at 98.00.
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.
