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Financial News: U.S. GDP Climbs By Unrevised 2.0% In Q2

U.S. GDP Climbs By Unrevised 2.0% In Q2

09/26/2019 - 08:47:00 (RTTNews)

(RTTNews) - The Commerce Department released its final report on U.S. gross domestic product in the second quarter on Thursday, showing the pace of GDP growth was unrevised from the previous estimate.

The report said real GDP increased at an annual rate of 2.0 in the second quarter, unchanged from the previous estimate and in line with economist estimates.

The unrevised 2.0 percent GDP growth in the second quarter still reflects a notable slowdown compared to the 3.1 percent jump in the first quarter.

The Commerce Department said downward revisions to consumer spending and non-residential fixed investment were primarily offset by upward revisions to state and local government spending and exports and a downward revision to imports.

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