America's gross domestic product increased at an annual rate of 2.6 percent in the second quarter of 2017, according to a new estimate released Friday morning by the Bureau of Economic Analysis. That represents a rate more than double that of the first quarter, when the gross domestic product grew at an annual rate of 1.2 percent. "The increase ... in the second quarter reflected positive contributions from personal consumption expenditures, nonresidential fixed investment, exports and federal government spending that were partly offset by negative contributions from private residential fixed investment, private inventory investment, and state and local government spending," according to the bureau's announcement of the new figures.
01/06/2023 By Kim Doleatto
09/02/2022 By Staff