Increased Exports and Consumer Spending Lead to Economic Growth in Second Quarter

Aug302017

Image(s) included
Post a comment
BEA graphic on Real GDP:  Percent change from preceding quarter.
BEA graphic on Real GDP: Percent change from preceding quarter.

Real gross domestic product (GDP) increased 3.0 percent in the second quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.4 percentage point more than the “advance” estimate released in July. In the first quarter, real GDP increased 1.2 percent.

The second‐quarter increase in real GDP reflected increases in both consumer spending on goods and services as well as increases in business investment, exports and federal government spending.

The increase in consumer spending was led by increases in housing and utilities; other services, notably in communication services; and other nondurable goods, primarily in prescription drugs. The increase in business investment reflected increases in all three components: equipment, intellectual property products, and structures.

For more information on today’s GDP release, see today’s BEA blog and press release.

Related content

Last updated: 2017-08-31 10:27

Bureaus & Offices

Search by organization name or browse the tree below

  • Department of Commerce (DOC)
    • Bureau of Economic Analysis (BEA)
    • Bureau of Industry and Security (BIS)
    • U.S. Census Bureau (Census)
    • Economic Development Administration (EDA)
    • Economics and Statistics Administration (ESA)
    • International Trade Administration (ITA)
    • Minority Business Development Agency (MBDA)
    • National Institute of Standards and Technology (NIST)
    • National Oceanic and Atmospheric Administration (NOAA)
      • National Environmental Satellite, Data, and Information Service (NESDIS)
      • National Marine Fisheries Service (NMFS)
      • National Ocean Service (NOS)
      • National Weather Service (NWS)
      • Oceanic & Atmospheric Research (OAR)
      • Office of Marine and Aviation Operations (OMAO)
    • National Technical Information Service (NTIS)
    • National Telecommunications and Information Administration (NTIA)
      • First Responder Network Authority (FirstNet)
    • United States Patent and Trademark Office (USPTO)
    • Office of the Secretary (OS)
      • Office of the Chief of Staff
      • Office of General Counsel (OGC)
      • Office of the Deputy Secretary
      • Office of Executive Secretariat
      • Office of Legislative and Intergovernmental Affairs (OLIA)
        • Native American Affairs
      • Office of Public Affairs (OPA)
      • Office of Policy and Strategic Planning (OPSP)
      • Office of White House Liaison
      • Office of Inspector General (OIG)
      • Office of Business Liaison (OBL)
      • Office of the Chief Financial Officer and Assistant Secretary for Administration (CFO/ASA)
      • Office of the Chief Information Officer (OCIO)
      • Enterprise Services
      • Center for Faith-Based and Neighborhood Partnerships