US GDP growth has risen more than expected in Q2, according to initial estimates, with the contraction in the first quarter less bad than had been feared.
The 4% figure is above consensus expectations of an annualised 3% growth rate. The 2.9% Q1 contraction, meanwhile, was revised down to 2.1%. Revisions to older data showed the economy grew 4% in the second half of 2013, the best six-month performance for a decade. The US Bureau of Economic Analysis said the rise reflected "positive contributions from personal consumption, private inventory investment, exports, non-residential fixed investment, state and local government spending, and residential fixed investment," set against a weather-affected first quarter. "These GDP figures fir...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
