Preliminary data indicates U.S. gross domestic product increased at an annual rate of 2.6 percent in second quarter 2017, according to the advance estimate from the Bureau of Economic Analysis.
While the results will be subject to further to revision as more data comes in, it appears the U.S. economy grew more in the second quarter than it did in the first quarter, which realized GDP growth at an annual rate of 1.2 percent, according to the BEA’s final estimate.
Indications of stronger economic growth will be well received by investors in commercial real estate. The post–financial crisis period is one of the longest economic expansions since World War II, behind only the expansions of the 1960s and 1990s in duration.
In particular, the increase in real GDP came from personal consumption expenditures, nonresidential fixed investment, exports and federal government spending — all of which are setting the economy on a strong footing. That was offset by declines in residential fixed investment, private inventory investment, and state and local government spending. Imports also increased in the second quarter.