Second quarter GDP increases 6.5%, feds' report below economists' expectation of at least 8%
Economists attributed the increase to a rebound from the pandemic shutdowns.
The Facts Inside Our Reporter’s Notebook
The United States' real Gross Domestic Product increase at an annual rate of 6.5% in the second quarter of 2021, the federal Bureau of Economic Analysis reported Thursday.
Economists attributed the increase to a rebound from the pandemic shutdowns – with Americans having additional money Americans had a result of lower expenses during the height of the pandemic and government spending, which would include the trillion-dollar COVID-19 relief spending bill.
Ahead of the announcement, economists anticipated the quarterly increase would be as much as 8.2% and perhaps the biggest since 1983, except for the 33.4% jump in the third quarter of 2020.
For the April through June period, growth was "underpinned by robust consumption, [capital expenditures], and government spending growth," Bank of America economist Michelle Meyer wrote in a note, according to Yahoo News.
News, not Noise
- New Durham indictment exposes second leg of Hillary Clinton's Russia collusion dirty trick
- 'Making Taliban Great Again' billboard featuring Biden draws widespread attention
- Georgia elections chief expects to be subpoenaed by Jan. 6 commission, vows not to comply
- 'Fakeout'? As lawmakers demand answers on Afghanistan, SecDef Austin shifts focus to Havana Syndrome
- 'Justice for J6' rally puts spotlight on evidence of political motives behind Jan. 6 prosecutions