Economy Grows 1.4% in Second Quarter, Slower Than Growth Seen Last Year

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Free Beacon:

The U.S. economy grew in the second quarter of 2015 as real gross domestic product (GDP) increased at an annual rate of 1.4 percent, according to the Bureau of Economic Analysis data released Thursday.

 

Real GDP represents the value of the production of goods and services in the economy and is adjusted for inflation. The second quarter growth in 2016 of 1.4 percent, which includes performance from April, May and June, was an increase from the 0.8 percent growth seen in the first quarter of 2016.

 

Growth in the second quarter was revised up from previous estimates. “The GDP estimate released today is based on more complete source data than were available for the “second estimate” issued last month,” the bureau said. “In the second estimate, the increase in real GDP was 1.1 percent.”