2Q US Gross Domestic Product (GDP) Growth Rate
Despite everyone’s expectations, the US second quarter gross domestic product (GDP) numbers came in way higher.
The 2Q of 2010 annual rate of increase in GDP came in at 1.6%, even though economists predicted a rate of about 1.4%.
Gross domestic product, the value of all goods and services produced, rose from April to June, the Commerce Department said Friday.
After-tax earnings edged up 0.1%, well off the previous quarter’s gain of 11.4%, while first-quarter profits were revised down from the initial estimate of a 12.1% increase.
On the other side, Friday’s report showed that the biggest component of GDP rose 2%, above the initial second-quarter estimate of 1.6%.
American spendings rose 1.9% in the first three months of the year.
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Posted by DianaMereoiu on Aug 27 2010 Filed under Economy. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
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