Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2019 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1 percent. The Bureau's second-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see "Source Data for the Advance Estimate" on page 2). The "second" estimate for the second quarter, based on more complete data, will be released on August 29, 2019. The increase in real GDP in the second quarter ... (full story)

Growth decelerated in the second quarter, but not by as much as Wall Street thought, as tariffs and a global slowdown weighed on the U.S. economy, the Commerce Department reported Friday. GDP increased 2.1%, down from 3.1% from the first quarter, the weakest increase since the first quarter of 2017 as President Donald Trump took office. Dow Jones estimates were for 2% growth. The report comes amid growing concern that the weakening growth hitting much of the world’s economy is spilling over into the U.S. While consumer activity has been strong, manufacturing growth has slumped recently and housing remains a weak ... (full story)