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7/29, 2:31 PM (Source: TeleTrader)
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US GDP grows 6.5% in Q2, missing estimates

The gross domestic product (GDP) of the United States increased at an annualized rate of 6.5% in the second quarter, falling way below market expectations, the US Bureau of Economic Analysis unveiled in its first estimate on Thursday. For the first quarter of 2021, real GDP grew 6.3%.

The price index for gross domestic purchases rose by 5.7% in the second quarter, constituting a quarterly gain of 1.8 percentage points. The personal consumption expenditures (PCE) expanded 6.4% from last quarter's 3.8%. Excluding food and energy prices, the PCE price index went from 2.7% to 6.1% for a quarterly rise of 3.4 percentage points.

Breaking the News / OL