US slightly revises up its GDP estimate for Q2 to 6.7%
(Worthy News) – The U.S. economy expanded at a 6.7% annual pace from April through June, the Commerce Department said Thursday, slightly upgrading its estimate of last quarter’s growth in the face of a resurgence of COVID-19 in the form of the delta variant.
The government’s estimate of growth in the second quarter – its last of three – was up from its previous estimate of a 6.6% annual pace that will likely mark a high point for the economy’s expansion this year as the virus slows some activity, government support programs wind down and manufacturing supply-chain issues persist.
Thursday’s report from the government showed that the nation’s gross domestic product – its total output of goods and services – accelerated from a 6.3% annual rate in the first three months of the year. [ Source: Washington Times (Read More…) ]
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