“Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018, according to the “advance” estimate,” the Bureau of Economic Analysis reported on Friday.
Key quotes from the official publication
- In the first quarter, real GDP increased 2.2 percent.
- The “second” estimate for the second quarter, based on more complete data, will be released on August 29, 2018.
- The PCE price index increased 1.8 percent, compared with an increase of 2.5 percent.
- Excluding food and energy prices, the PCE price index increased 2.0 percent, compared with an increase of 2.2 percent
- The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, nonresidential fixed investment, federal government spending, and state and local government spending.
- Private inventory investment and residential fixed investment contributed negatively.
- Disposable personal income increased $167.5 billion, or 4.5 percent, in the second quarter, compared with an increase of $256.7 billion, or 7.0 percent, in the first quarter.
- Personal saving was $1,051.1 billion in the second quarter, compared with $1094.1 billion in the first quarter.
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