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US Gross GDP Rises 3.9 Percent in Second Quarter

The U.S. Department of Commerce, Bureau of Economic Analysis (BEA) reported that the real gross domestic product (GDP) in the second quarter was revised up as consumers increased spending and businesses invested more than expected.

The agency’s third estimate for the second quarter showed the country’s GDP expanded 3.9% in the second quarter, up 0.2% from the previous estimate of 3.7%.

The growth was due to positive contributions from personal consumption expenditures, exports, nonresidential fixed investment, state and local government spending, and residential fixed investment.

Personal consumption contributed 0.3% to GDP

During the second quarter, the personal consumption expenditures grew at a faster pace, which contributed 0.3% to the total revision of the GDP. Investments in infrastructure increased 6.2% at an annual...