2nd QT 2010 GDP

The Bureau of Economic Analysis (BEA) released the GDP advanced estimate for the second quarter on July 30th. Later this month, this agency will adjust the GDP based on more accurate data. The GDP for the first quarter was increased.

2nd Qt GDP 2.4%

The BEA indicated that this GDP estimate was this high because:

1. There was an increase in residential investment

2. The investment in nonresidential structures increased

3. An increase in state and local government spending

4. Federal government spending was accelerated

Remember to look for trends as you digest this information.