U.S. Economy Grew at Unrevised 4.2% Pace in Second Quarter
Thursday, 27 September 2018 19:48 WIB |
ECONOMY |Ekonomi ASGDP AS
The U.S. economy grew in the second quarter at an unrevised 4.2 percent pace, the fastest since late 2014, indicating a solid foundation for this quarter, Commerce Department data showed Thursday.
Highlights of Second-Quarter GDP (Third Estimate)
Gross domestic product grew at 4.2% annualized rate, the fastest since 3Q 2014 (matching est.)
Consumer spending, biggest part of the economy, grew at an unrevised 3.8% pace (matching est.); upward revision to gasoline and other energy products, downward revision in transportation services
Gross domestic income, adjusted for inflation, rose 1.6%, revised from a 1.8% gain
The revisions for GDP, the value of all goods and services produced in the U.S., are largely in sync with more recent data that show the world's largest economy is expanding at a steady, albeit more moderate, pace this quarter.
The details were mixed. Inventories subtracted 1.17 percentage point from growth, revised from a previously reported 0.97-point drag, mostly on nonfarm stockpiles.
Household purchases, which account for about 70 percent of the economy, remained the main driver of growth. They contributed 2.57 point, up from a previously estimated 2.55 point.
Source : Bloomberg