U.S. GDP Climbs Less Than Expected In Q2

Economic activity in the U.S. increased by less than expected in the second quarter, the Commerce Department revealed in a report on Thursday, although the report also showed a notable upward revision to the data for the first quarter.

The Commerce Department said real gross domestic product increased at an annual rate of 2.3 percent in the second quarter compared to expectations for an increase of about 2.6 percent.

However, the report also said first quarter GDP rose by an upwardly revised 0.6 percent compared to the 0.2 percent contraction that had been reported.

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