The US economy grew at an annual rate of 1.5% in the second quarter. Compared with previously released data, there was no correction. However, specific disaggregated data showed that the performance of consumer spending and corporate investment was better than the initial value. The second valuation released by the US Bureau of Economic Analysis on Wednesday showed that inflation-adjusted GDP grew at an annual rate of 1.5% in the second quarter and 2.1% in the first quarter. Consumer spending, which accounts for more than two-thirds of US economic activity, is equivalent to an annual increase of 3.4%, higher than the initial estimate of 3.2%. Non-residential fixed investment grew by 8.5%. A narrower measure of potential demand — final sales to domestic private buyers — increased 4.2% in the second quarter after a correction, higher than the initial value of 3.9%. The indicator excludes the impact of net exports, inventories, and government spending.

The US economy grew at an annual rate of 1.5% in the second quarter. Compared with previously released data, there was no correction. However, specific disaggregated data showed that the performance of consumer spending and corporate investment was better than the initial value. The second valuation released by the US Bureau of Economic Analysis on Wednesday showed that inflation-adjusted GDP grew at an annual rate of 1.5% in the second quarter and 2.1% in the first quarter. Consumer spending, which accounts for more than two-thirds of US economic activity, is equivalent to an annual increase of 3.4%, higher than the initial estimate of 3.2%. Non-residential fixed investment grew by 8.5%. A narrower measure of potential demand — final sales to domestic private buyers — increased 4.2% in the second quarter after a correction, higher than the initial value of 3.9%. The indicator excludes the impact of net exports, inventories, and government spending.