Real gross domestic product (GDP) rose 0.8% in the second quarter, driven by increased business investment in inventories, non-residential structures, machinery and equipment, and household spending on services and semi-durable goods. This was the fourth consecutive quarterly increase in real GDP.
Growth in the second quarter was moderated by declines in housing investment and household spending on durable goods and by a rise in imports that exceeded exports. Final domestic demand rose by 0.7%, following a 0.9% increase in the first quarter.
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