The country’s real gross domestic product increased at an annual rate of 2.5 percent in the second quarter, the U.S. Bureau of Economic Analysis confirmed today.
The BEA released its third estimate of the economic measure, which is based on more complete data than were available for its estimate last month, which was also 2.5 percent.
The U.S. economy grew 1.1 percent in the first quarter.
The second-quarter increase was mostly due to increased in personal consumption expenditures, exports, residential and nonresidential fixed investment and private inventory investment, according to the BEA.
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Corporate profits increased $66.8 billion after falling $26.6 billion in the first quarter.
