Real gross domestic product increased at an annual rate of 2.6 percent in the second quarter of 2017 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2 percent (revised). The Bureau emphasized that the second-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see “Source Data for the Advance Estimate” on page 3). The "second" estimate for the second quarter, based on more complete data, will be released on August 30, 2017. The increase in real GDP ... (full story)

Pickups in consumer and business-equipment spending powered a U.S. economic rebound in the second quarter, signaling the eight-year expansion is on track to be sustained, Commerce Department figures showed Friday in Washington. Highlights of Second-Quarter GDP (First Estimate) • Gross domestic product rose at a 2.6% annualized rate from prior quarter (est. 2.7%); first-quarter growth revised to 1.2% from 1.4% • Consumer spending, biggest part of the economy, grew 2.8% (matching est.) after 1.9% gain • Nonresidential fixed investment climbed 5.2%, adding to growth • Trade added to growth as exports rose faster than ... (full story)