US GDP Increased , at Rate of 6.5 Percent in Second Quarter.<br />Preliminary data released by the <br />U.S. Commerce Department... .<br />... revealed a slight rise in the economy <br />with mixed implications.<br />The second quarter Gross Domestic Product (GDP) fell significantly short of <br />Wall Street's 8.4 percent prediction. .<br />But the GDP improved from the <br />first quarter increase of 6.3 percent.<br />The good news is that the economy has now surpassed its pre-<br />pandemic level, Paul Ashworth, Capital Economics, via CNBC.<br />But with the impact from the fiscal stimulus waning, surging prices weakening purchasing power, ... , Paul Ashworth, Capital Economics, via CNBC.<br />... the delta variant running amok in the south and the saving rate lower than we thought, we expect GDP growth to slow to 3.5% annualized in the second half of this year, Paul Ashworth, Capital Economics, via CNBC.<br />Several factors led to the less-than-predicted <br />second quarter growth, .<br />including a fall in gross <br />private domestic investment...<br />... and a five percent drop <br />in federal government spending.<br />Analysts point out that a pre-pandemic <br />6.5 percent second quarter growth would <br />be considered the strongest since 2003.<br />Unemployment data also released on July 29<br />indicated a drop in first-time filings... .<br />... but the number remains twice as high <br />as pre-pandemic levels
