U.S. GDP grew 3.1% in second quarter

The U.S. economy performed strongly in the second quarter, with GDP increasing at an annual rate of 3.1 percent, according to the third and final estimate from the Bureau of Economic Analysis, up from 1.2 percent in the first quarter. Robust economic growth is important for the health of the real estate investment industry.

The third, more complete estimate was revised upward from the preliminary estimate of 2.6 percent and second estimate of 3.0 percent as private inventory investment increased more than previously estimated.

Although the second quarter saw GDP increase at its fastest rate since first quarter 2015, experts expect the momentum to stall in the third quarter as the economy reacts to the devastating hurricane season. Economists are forecasting a GDP growth rate of 2.2 percent in the third quarter.

The strong final reading for second-quarter GDP lends weight to ma