U.S. Final Q2 Growth Rate at 3.8%, Up 0.5%p from Preliminary Estimate
The U.S. Department of Commerce announced on September 25 (local time) that the finalized growth rate of the U.S. real Gross Domestic Product (GDP) for the second quarter was calculated at an annualized rate of 3.8% compared to the previous quarter.
This figure is 0.5 percentage points higher than the previously announced preliminary estimate of 3.3%, and it also exceeds the expert forecast of 3.3% compiled by Dow Jones.
The finalized figure is calculated by incorporating economic activity indicators that were not included in the preliminary estimate. Unlike South Korea, the United States announces GDP statistics by converting the quarter-on-quarter growth rate (seasonally adjusted) into an annualized growth rate.
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Previously, the U.S. GDP recorded a negative growth rate in the first quarter.
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