The US economy expanded by 6.5% q/q annualised in Q2 2021
Real GDP in the US increased at an annual rate of 6.5% in Q2 2021, according to the advance estimate released by the Bureau of Economic Analysis, improving slightly from the revised 6.3% outturn for Q1 2021. On an annualised basis, personal consumption expenditures increased by 11.8%, with non-resident investment up by 8% but residential investment contracting by 9.8%. Government consumption expenditure and gross investment also declined by 1.5%, while exports of goods and services rose by 6% and imports by 7.8%.
Due to a rundown of retail trade stocks, inventory growth subtracted 1.1 percentage points (pp) from GDP growth, and net exports of goods and services an additional 0.4pp.
Further data and analysis on the US economy are available on the CEIC US Economy in a Snapshot – Q3 2021 report.