The Top Line – The U.S. economy expanded by 1.4 percent in Q2, according to the Bureau of Economic Analysis’ third estimate. In comparison, Q1 growth was just 0.8 percent. Robust consumer spending, positive net exports, and upwardly revised business investment were somewhat offset by weak residential investment and a decline in government spending. In addition, a sharp reduction in inventories subtracted 1.16 percentage points from GDP.
For more detail, see The Top Line below or as a .pdf file here.