U.S. GDP rose 6.5% last quarter, well below expectations
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(Worthy News) – The U.S. economy rose at a disappointing rate in the second quarter, the Commerce Department reported Thursday in a sign that the U.S. has escaped the shackles of the Covid-19 pandemic but still has more work to do.
Gross domestic product, a measure of all goods and services produced during the April-to-June period, accelerated 6.5% on an annualized basis. That was slightly better than the 6.3% gain in the first quarter, which was revised down narrowly.
While that would have been strong prior to the pandemic, the gain was considerably less than the 8.4% Dow Jones estimate. [ Source: CNBC (Read More…) ]
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