Market and product

U.S. Q2 GDP up 1.2% vs. forecast rise of 2.6%

09:44 PM @ Friday - 29 July, 2016

U.S. GDP rose less than expected in the second quarter, preliminary official data Friday showed.

The Bureau of Economic Analysis said that GDP rose to an annual rate of 1.2% from 0.8% in the first quarter.

The Q1 rate was revised from an earlier reading of 1.1%.

Analysts had expected U.S. gross domestic product to rise 2.6% in the second quarter.