The most recent estimate reflected a higher business investment, due in part to the construction of manufacturing facilities.
Real nonresidential fixed investment was revised to 8.4% from 1.6% in the last reading. Real nonresidential fixed investment had a final reading of 9.7%, which was above both previous estimates.
Exports of goods and services was revised to 11.1% from the previous reading of 10.1%. This is well above the first quarter’s negative reading of 9.2%.
The GDP price index increased to 2.0%, which was just 0.1% more than the second reading. The GDP price index remains relatively unchanged from the previous reading.
Ultimately this report will support the views that the economy is reaching a stronger phase of growth after the recession of the past five years.
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