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Real gross domestic product for the U.S. increased at an annual rate of 4.6 percent in the second quarter, according to the third estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 2.1 percent.
The increase in real GDP in the second quarter primarily reflected positive contributions from personal consumption expenditures, exports, private inventory investment, nonresidential fixed investment, state and local government spending and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.
This upturn in the percent change in real GDP primarily reflected upturns in exports and in private inventory investment, accelerations in nonresidential fixed investment and in PCE, and upturns in state and local government spending and in residential fixed investment that were partly offset by an acceleration in imports.