US Real GDP increases 4.0% in Q2


Real gross domestic product increased at an annual rate of 4.0 percent in the second quarter of 2007. In the first quarter, real GDP increased 0.6 percent.

The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures (PCE) for services, exports, nonresidential structures, federal
government spending, state and local government spending, and equipment and software that were partly offset by a negative contribution from residential fixed investment.  Imports, which are a subtraction in the calculation of GDP, decreased.
 
The acceleration in real GDP growth in the second quarter primarily reflected a downturn in imports, upturns in federal government spending and in private inventory investment, accelerations in exports and in nonresidential structures, and a smaller decrease in residential fixed investment that were partly offset by a notable deceleration in PCE.

Final sales of computers contributed 0.21 percentage point to the second-quarter growth in real GDP after subtracting 0.01 percentage point from the first-quarter growth.  Motor vehicle output contributed 0.02 percentage point to the second-quarter growth in real GDP after contributing 0.18
percentage point to the first-quarter growth. 


Bureau of Economic Analysis
8/30/2007 5:52:11 AM