(BEA) US real gross domestic product surged at an annual rate of 6.6% in the second quarter, a higher increase than the 6.3% jump in the first quarter.
The increase in GDP reflected rises in personal consumption expenditures, investments, exports, and government spending in a recovering economy.
The price index for gross domestic purchases rose by 5.8% in the second quarter.
In current dollar terms, GDP rose at an annual rate of 13.2%, or $693.2 billion in the second quarter, to $22.73 trillion. GDP had ticked higher by 10.9%, or $560.6 billion in Q1.
Real gross domestic income cooled to a 1.6% expansion, down from a growth of 6.3% in the first quarter.
Profits from current consumption rose at a higher rate of $234.5 billion, up from $123.9 billion in the first quarter.
Profits of domestic financial corporations rose by $53.7 billion, up from an increase of $1.3 billion in the first quarter. Nonfinancial corporations saw a $169.8 billion profit increase, up from a $133.2 billion jump in the first quarter.
Rest-of-the-world profits rose by $11.0 billion, up from a decline of $10.6 billion in the first quarter.
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