Trucks line up to enter a Port of Oakland shipping terminal in Oakland, Calif. / PHOTO: AP (By Casey Harper, The Center Square ) Newly revised Gross Domestic Product data shows that the U.S. economy grew by 2.1% in the second quarter of 2023, lower than previously reported by the federal agency.
The U.S. Bureau of Economic Analysis released the revised GDP numbers Wednesday, which are lower than the advance figure of 2.4%.
“The GDP estimate released today is based on more complete source data than were available for the ‘advance’ estimate issued last month. In the advance estimate, the increase in real GDP was 2.4 percent…” BEA said. “The updated estimates primarily reflected downward revisions to private inventory investment and nonresidential fixed investment that were partly offset by an upward revision to state and local government spending.”
GDP in the first quarter of this year rose 2%.BEA also tracks Americans’ personal […]
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