US: Real GDP increased at an annual rate of 2.6% in second quarter of 2017

"Real gross domestic product increased at an annual rate of 2.6 percent in the second quarter of 2017" the Bureau of Economic Analysis announced on Friday.

Key quotes:

• In the first quarter, real GDP increased 1.2 percent (revised)
• The acceleration in real GDP growth in the second quarter reflected a smaller decrease in private inventory investment, an acceleration in PCE, and an upturn in federal government spending
• These movements were partly offset by a downturn in residential fixed investment and decelerations in exports and in nonresidential fixed investment
• Current-dollar GDP increased 3.6 percent, or $169.0 billion, in the second quarter to a level of $19,226.7 billion