America’s Real GDP Increased At Annual Rate 2.6% In Second Quarter 2017

The U.S. Department Of Commerce Bureau Of Economic Analysis released its Gross Domestic Product: Second Quarter 2017 (Advanced Estimate) and Annual Update on July 28th, 2017. The real gross domestic product increased at an annual rate of 2.6% in the second quarter of 2017. The first quarter, real GDP increased 1.2 percent (revised). The Dow Jones Industrial Average is at a record high of 21,917 and American home prices continue to rise according to the Federal Housing Finance Agency’s July 24, 2017 report. Although President Trump’s cabinet is in turmoil and his agenda is stuck in the weeds, the economy continues to grow. The disruptive political situation in Washington, D.C. is not slowing down consumer spending or business investment. The third quarter numbers will give a better understanding of consumer and business confidence since the recent developments in Washington and the effects of politics over the next couple of months.

 

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