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 percentage did nonresidential fixed investment increase by?

What factors might be causing businesses to hold off on investment?