26 Aug, 2021

2nd Qtr GDP revised up

Large corporations continue their accelerated growth throughout the pandemic.

Gross domestic product, the official scorecard for the U.S. economy, rose at a revised 6.6% annualized pace in the second quarter, the government said Thursday. Originally the increase was put at 6.5%.

The slight increase in GDP reflected somewhat stronger consumer spending and U.S. exports than initially reported.

The revised GDP report also included the first look at corporate profits in the second quarter. Adjusted pretax profits jumped at a 9.2% annual rate and suggest businesses have plenty of capital to continue to invest and hire.

U.S. economy grew slightly faster 6.6% pace in second quarter, new GDP figures show – MarketWatch
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