Posted July 27, 2018

GDP hits 4.1 percent

Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018, according to the "advance" estimate released by the Bureau of Economic Analysis.

In the first quarter, real GDP increased 2.2 percent.

The acceleration in real GDP growth in the second quarter reflected accelerations in personal consumption expenditures (PCE) and in exports, a smaller decrease in residential fixed investment, and accelerations in federal government spending and in state and local spending. These movements were partly offset by a downturn in private inventory investment and a deceleration in nonresidential fixed investment.