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US GDP up by 1.1%

Friday, Aug 26 2016

Real gross domestic product increased at an annual rate of 1.1 percent in the second quarter of 2016, according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.8 percent.

The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures (PCE) and exports that were partly offset by negative contributions from private inventory investment, residential fixed investment, state and local government spending and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.

 

Euro is currently being traded around 1.13 area, Sterling is at 1.3220 level, while Aussieis at 0.7650 handle.

More in this category: « US Consumer Sentiment dipped to 89.8 USD - Major events in the week ahead »

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