» GDP Revision: Stronger Consumer, Trade Decision Economics

GDP Revision: Stronger Consumer, Trade

Posted August 29, 2012 by rvillareal

The second estimate of Q2 GDP shows the U.S. economy expanded at 1.7% Q/Q annualized, up two-tenths from the advance estimate. Personal consumption expenditures grew 1.7% Q/Q annualized as well, from 1.5% in the advance estimate, as stronger purchases of durable goods more than offset a drop in non-durables purchases. Utilities spending provided a lift as households faced one of the hottest summers in the past fifty years.