The U.S. Gross Domestic Product grew at annualized rate of 6.5% in the second quarter of 2021, according to statistics released by the U.S. Bureau of Economic Analysis on Thursday.
The rate is up only slightly from the GDP rate of 6.3% in the first quarter of 2021, and well below the Dow Jones estimate of 8.4% for Q2.
The Treasury reported that rising imports and a 5% decline in the rate of federal government spending, despite an increasing budget deficit, were factors in the pedestrian results.
To see the full BEA report, click here.