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Category: GDP

GDP Expanded at 4.2% Rate in Second Quarter

September 02, 2014 Posted by Chris Wysong

GDP growth rate doubled from the first quarter to the second this year, a result of increased exports and consumer spending. In this article from the Wall Street Journal, Ben Leubsdorf outlines all the factors that have contributed to this recent growth, including U.S. corporations posting record profits during the second quarter. GDP Expanded at 4.2% Rate in Second Quarter By: Ben Leubsdorf Corporate profits surged last quarter while the U.S. economy posted robust growth, putting the economic expansion back on steady footing headed into its sixth year. Gross domestic product, the broadest measure of goods and services produced across the economy, grew at a seasonally adjusted annual rate of 4.2% in the second quarter after accounting for inflation, the Commerce Department said. The agency last month initially estimated the second-quarter growth rate at 4%, relying on incomplete trade and other data. GDP contracted at a 2.1% pace in the first quarter, dragged down by falling exports

Posted in Economy, Growth, GDP
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