US GDP Expands 3.9% in Q2
The United States economy expanded an annualized 3.9 percent on quarter in the three months to June of 2015, better than a 3.7 percent gain reported in the second estimate, due to higher consumer and construction spending. It is the highest growth rate in three quarters.
Consumer spending expanded an annualized 3.6 percent in the second quarter of 2015, up from a 3.1 percent increase in the second estimate and a 1.8 percent gain in the previous period. Housing investment jumped 9.3 percent (7.8 percent in the second estimate and 10.1 percent in Q1).
Business investment rose at a faster 4.1 percent (3.2 percent in the second estimate and 1.6 percent in Q1). Investment in intellectual property and software grew the most (8.3 percent), followed by structures (6.2 percent) and equipment (0.3 percent).
Government purchases went up 2.6 percent, unchanged from the second estimate and rebounding from a 0.1 percent fall in Q1.
Exports grew at a slower-than-expected 5.1 percent (5.2 percent in the second estimate) but better than a 6 percent drop in Q1. Imports went up 3 percent (2.8 percent in the second estimate and 7.1 percent in Q1).
In the first three months of the year, the economy advanced an annualized 0.6 percent.
9/25/2015 1:58:21 PM