GDP Rose More Than Expected; Stocks Top Record Again

Published Friday, July 26, 2019 at: 7:00 AM EDT

U.S. real gross domestic product (GDP) increased at an annual rate of 2.1% in the second quarter of 2019, according to the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1%, but many forecasts had expected GDP to decelerate more sharply. As recently as Thursday, the GDPNow forecast designed by the Atlanta Federal Reserve Bank, some of the world's best economists, updated its growth projection to 1.3%. To be clear, the Atlanta Fed's real time forecast of 1.3% on Thursday underestimated the actual rate of growth announced by the government on Friday morning by 60%! An...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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