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US revises GDP growth upwards to 3.9% in 2015 Q2
29
Sep '15
America's real gross domestic product (GDP) increased at an annual rate of 3.9 per cent in the second quarter of 2015, according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.6 per cent, the BEA said in a press release.

The GDP estimate released this week is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 3.7 per cent. With the third estimate for the second quarter, the general picture of economic growth remains the same; personal consumption expenditures (PCE) and nonresidential fixed investment increased more than previously estimated.

The increase in real GDP in the second quarter primarily reflected positive contributions from PCE, exports, nonresidential fixed investment, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.

Real GDP increased 3.9 per cent in the second quarter, after increasing 0.6 per cent in the first.

The acceleration in real GDP in the second quarter reflected an upturn in exports, an acceleration in PCE, a deceleration in imports, an upturn in state and local government spending, and an acceleration in nonresidential fixed investment that were partly offset by decelerations in private inventory investment and in federal government spending.

Real gross domestic income (GDI) -- the value of the costs incurred and the incomes earned in the production of goods and services in the nation's economy -- increased 0.7 per cent in the second quarter, compared with an increase of 0.4 per cent in the first. The average of real GDP and real GDI, a supplemental measure of US economic activity that equally weights GDP and GDI, increased 2.3 per cent in the second quarter, compared with an increase of 0.5 per cent in the first. (SH)

Fibre2Fashion News Desk – India

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