BEA second estimate: real GDP rose at a 1.5% annualized rate in Q2, unchanged
from the advance estimate and after a 2.1% increase in Q1. Personal consumption
rose 3.4% annualized (initially 3.2%). Nonresidential fixed investment increased
8.5% annualized. Final sales to private domestic purchasers, a narrower measure
of underlying demand that excludes net exports, inventories and government
spending, was revised up to a 4.2% annualized gain (initially 3.9%), the
strongest in over three years. Government spending fell 1.0% annualized,
reflecting a large drop in non‑defense outlays.
