Economic activity revived in the second quarter, according to this morning’s “advance” GDP report published by the Bureau of Economic Analysis. Output increased 2.6%, which matched Econoday.com’s consensus forecast. The growth rate also marks an encouraging improvement over Q1’s pace, which was revised down slightly to a sluggish 1.2% rise.
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In a final round of predictions, forecasters raised expectations for today’s preliminary estimate of second quarter GDP growth. The projections still anticipate that output will remain modest, but the 11th-hour predictions suggest that an upside surprise is possible in today’s release from the Bureau of Economic Analysis that’s due at 8:30 am Eastern.
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