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For additional information relating to this article, please contact:

Alexander Chute Economist
Tel: 902-424-5810Email:

September 05, 2017

In the second quarter of 2017, the US economy grew at an annualized rate of 3.0 per cent (revised up from 2.6 in the flash estimate), according to the advance estimate from the Bureau of Economic Analysis. Growth was accelerated compared to Q1, when real GDP grew by 1.2 per cent. Increases in personal consumption expenditures and nonresidential fixed investment were larger than previously estimated. Negative contributions to growth came from decreases in private residential fixed investment, and state and local government and an increase in imports. Net exports declined by 5.5 per cent on the quarter, after declining by 5.5 per cent in Q1 2017.  Exports over the last two quarters have been up $4.3 trillion, while imports were $5.6 trillion. 

 Source: US Bureau of Economic Analysis

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