GDP Jumps to Normal Levels in Q2

The second read on second quarter Gross Domestic Product (GDP) rose to 3 percent from the initial read of 2.6 percent. The boost was fueled by a pop in consumer spending to 3.3 percent from 2.8 percent and an increase in business spending. Consumer spending makes up two-thirds of the U.S. economy. The 3 percent boost in GDP was the best reading since the 3.2 percent registered in the first quarter of 2015. GDP is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period. It is considered the broadest measure of economic activity.

 

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