The U.S. economy grew an unrevised 2.5% in the second quarter, according to the government's third and final review of gross domestic product. Economists polled by MarketWatch had expected GDP to be revised up to 2.7%. Companies restocked warehouse shelves less than previously reported,the Commerce Department said Thursday, but state and local spending actually rose instead of falling. Exports also grew somewhat slower, at 8% compared to a prior reading of 8.6%. Consumer spending was unchanged at a 1.8% increase, though final sales of U.S.-made goods and serviced was raised to 2.1% from 1.9%. Inflation as measured by the PCE index was revised down a notch to show a 0.1% decline. That's the first drop since the last quarter of the Great Recession. U.S. growth is projected to slow to a rate of 1.9% in the third quarter, according to the latest MarketWatch poll of economists.
Source: Marketwatch
Source: Marketwatch
