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Latest GDP Figures for Second Quarter Disappoint

Thu, July 29, 2021 2:43 PM | Anonymous member (Administrator)

Although U.S. economy is showing signs of continued growth or expansion, Real Gross Domestic Product (GDP) increased at only an annual rate of 6.5 percent in the second quarter of 2021, disappointing expectations. [According to the "advance" estimate released by the Bureau of Economic Analysis (see, chart below)].  By way of comparison, the first quarter real GDP increased 6.3 percent (revised), reflecting lingering affects from still being hampered by shutdowns – which were largely removed during the second quarter of the year.

The GDP estimate is based on source data that are incomplete or subject to further revision by the source agency. The "second" estimate for the second quarter, based on more complete data, will be released on August 26, 2021.

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