The U.S. economy rose at a 2.5% annual rate in the second quarter, up from a 1.1% growth rate in the year’s first three months, the Commerce Department said Sept. 26.
The gross domestic product reading was unrevised from the estimate released in August. It was slightly lower than economists’ median forecast of a revision to a 2.6% rate, Bloomberg News reported.
GDP measures the value of all goods and services produced.
Consumer spending, which makes up about 70% of the economy, rose at a 1.8% rate, matching the previous reading issued last month.
The Sept. 26 GDP report is the final of three issued for each quarter by Commerce.