U.S. 2Q GDP Rises 2.6%, 1Q Revised Lower to 1.2%

The video discusses the U.S. second quarter annualized GDP, which came in at 2.6%, slightly below the estimate of 2.7%. The previous quarter's GDP was revised down to 1.2%. Core PCE was reported at 0.9%, higher than the previous month's estimate of 0.7%. The Employment Cost Index was softer than expected at 0.5%. Personal consumption saw a significant revision from 1.1% to 1.9% in the first quarter and increased to 2.8% in the second quarter. Business investment, particularly nonresidential fixed investment, rose by 5.2%, although it slowed in the second quarter due to uncertainties in Washington, possibly related to tax policies.

What was the actual second quarter annualized GDP in the United States?

• 0.9%

• 2.7%

• 1.2%

• 2.6%

How did the Core PCE compare to its estimate?

• It was not reported

• It was higher than the estimate

• It was lower than the estimate

• It matched the estimate

What was the revised personal consumption figure for the first quarter?

• 0.5%

• 1.1%

• 1.9%

• 2.8%

What was the percentage increase in nonresidential fixed investment?

• 3.2%

• 4.5%

• 5.2%

• 6.0%

What factor is suggested to have slowed down business investment in the second quarter?

• High inflation

• Political uncertainty

• Interest rate hikes

• Trade tariffs