According to the advance estimate released by the Bureau of Economic Analysis, real gross domestic product (GDP) increased at an annual rate of 1.2% in the US in the second quarter of 2016.
The increase reflected positive contributions from personal consumption expenditures (PCE) and exports that were partly offset by negative contributions from private inventory investment, both residential and non-residential fixed investment, and state and local government spending across America.
Imports, which are a subtraction in the calculation of GDP, decreased in the second quarter.
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