Improved View On US Q2 GDP
Analysts revised the US Q2 Gross Domestic Product up to mark the fastest pace in 3 years. According to the Commerce Department, GDP extended at a 4.2% annualized pace in the second quarter, higher than 4.1%. Economists projected a decline to 4%. Comparing to 2017, the economy rose from 2.8% to 2.9%.
Exports were revised to show a drop from 9.3% to 9.1%. Imports were revised to record a fall of 0.4%, comparing to previous 0.5% increase.