US GDP Increases by 4.2% in Second Quarter - Commerce Dept.
US gross domestic product (GDP) increased by more than four percent during the second quarter, the Commerce Department's Bureau of Economic Analysis said in a press release on Wednesday.
WASHINGTON (Pakistan Point News / Sputnik - 29th August, 2018) US gross domestic product (GDP) increased by more than four percent during the second quarter, the Commerce Department's Bureau of Economic Analysis said in a press release on Wednesday.
"GDP increased 4.2 percent in the second quarter of 2018," the release said. "The growth rate was 0.
1 percentage point more than the 'advance' estimate released in July."
The revised figure, the release added, represents the largest quarterly jump in US GDP growth since the third quarter of 2014.
The upward trend was driven by increases in consumer and government spending, business investment, and exports while inventory and housing investments decreased, the release said.
In the first quarter of this year US GDP increased by 2.2 percent.