GDP growth better than predictions, still historically low

29-Sep (HousingWire) — Real Gross Domestic Product, that is, the value of everything a nation produces, increased in the second quarter at a slightly higher rate than previous estimates predicted.

GDP increased at an annual rate of 1.4% in the second quarter, according to the third estimate released by the U.S. Bureau of Economic Analysis.

This is up from the first quarter, when real GDP increased 0.8%, and the second estimate for this quarter when it increased 1.1%.

While this data is based on a more complete source of data than was available for the second estimate last month, the only substantial change was in nonresidential fixed investment, which showed an increase.

If economists were not happy about the number before, there is little hope they are impressed with the new estimate, which is just 0.2% above the first estimate.