U.S. GDP expands by 2.1 percent in the Q2, says ABC
The U.S. economy expanded at a 2.1 percent annualized rate during the second quarter of 2019 with consumer spending leading the way, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Economic Analysis. This rate of growth exceeded the consensus expectation that second quarter growth would be closer to 1.8 percent.
However, nonresidential fixed investment, a key component of business investment, declined at a 0.8 percent annual rate in the second quarter. Investment in structures plummeted at a 10.6 percent annual rate, the fastest decline since the first quarter of 2016.