AFMC - Q2 GDP Advance Estimate: Real GDP At 2.8% Above Forecast

2024-07-26 03:10:00 ET

Summary

• Real gross domestic product increased at an annual rate of 2.8% in Q2 2024, according to the advance estimate.
• The latest estimate is above the forecasted 2.0% growth and is a pickup from the Q1 2023 GDP final estimate of 1.4%.
• We are currently at a level above the 10-year moving average but below the series average, indicating that the current economic growth is on the historically slower end.

By Jennifer Nash

The U.S. economy grew at a faster than expected pace during the second quarter of this year. Real gross domestic product increased at an annual rate of 2.8% in Q2 2024, according to the advance estimate. The latest estimate is above the forecasted 2.0% growth and is a pickup from the Q1 2023 GDP final estimate of 1.4%....

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