GDP Grew at 3.3% Rate in the Second Quarter

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he U.S. economy grew at an annual rate of 3.3% in the second quarter, down from 3.8% in the first quarter, the Commerce Department reported Wednesday.

he quarter was the ninth straight in which the gross domestic product was greater than 3%, the longest such string since the 13 quarters that ended in the first quarter of 1986.

The second-quarter GDP rate compared with Commerce’s preliminary estimate four weeks ago of a 3.4% increase.

GDP rose to $11.1 trillion when annualized and adjusted for inflation; without adjustment, the economy grew at a 5.8% annual rate to $12.4 trillion for the quarter.

Economists have forecast a 4.1% annual rate for the third quarter but may scale that back after recent surges in fuel prices, Bloomberg reported.