After the initial preliminary information was made public, it became clear that the world's largest American economy grew even twice as fast in the last quarter as in the previous quarter and significantly more than expected.
The combined growth of the gross domestic product this time reached as much as 2.8 percent, while it was expected that it would amount to only two percent on average.
This primarily reflected increased consumer spending, investment in private inventories and non-housing long-term investment.
American consumer spending, which makes up about seventy percent of the nation's GDP, grew 2.3 percent last quarter, up from 1.5 percent in the first quarter.
In addition, private stock increased growth by 0.82 percentage points, after its change in the previous two quarters weighed on GDP growth. Government spending also increased more strongly (3.1 percent, compared to 1.8 percent in the previous quarter).
Meanwhile, in America, investments in non-residential premises accelerated (from 4.4 to 5.2 percent), that is, in equipment from 1.6 to as much as 11.6 percent, but in the case of intellectual property products, investment growth slowed down (from 7.7 to 4 .5 percent), while investments in constructions decreased by 3.3 percent, after growing by 3.4 percent in the first quarter.
On the other hand, housing investment fell for the first time in a year (-1.4 percent, compared to 16 percent growth in the first quarter), while net trade slowed growth for the second consecutive quarter as imports rose faster (6.9 percent, compared to 6.1 percent) than exports (2 percent versus 1.6 percent).
At the same time, we remind you that this is only a preliminary initial evaluation, and we will know the results of the second evaluation at the end of August.
