US GDP in the second fiscal quarter grew by 6.5%

According to the first estimate of the BEA (The Bank of East Asia), the US GDP grew by 6.5% in the second quarter, while analysts had expected an acceleration to 8.5%.

In the second quarter, US exports grew 6% and imports 7.8%. Government spending and investment fell by 1.5%.

Gross Domestic Product is the overall measure of production in a country. GDP shows the market value of all goods and services produced in the economy during the reporting period.