U.S. GDP increased by 1.2% in the II quarter in terms of annual growth, according to Ministry of Commerce. Analysts surveyed by Bloomberg expected higher growth rates: the forecast assumed an increase in GDP by 2.5% in the last quarter. According to revised data, U.S. GDP growth rate amounted to 0.8% in I quarter of this year, not 1.1% as previously reported. Consumer spendings, which account for 70% of the U.S. GDP, increased by 4.2% yoy in the II quarter which was the largest rise since the end of 2014. The growth figure significantly accelerated compared to 1.6% in the quarter I.    

 

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