U.S. economic growth slows down in second quarter

An early look at the U.S. growth patterns during the second quarter of the year pointed to a slowdown in the national economy, according to the official data released on Friday.

The US real gross domestic product (GDP) came in at an annualised growth rate of 2.1% in Q2-19, compared with a rate of 3.2%, the US Commerce Department’s Bureau of Economic Analysis said.

Current-dollar GDP climbed by 4.6% or $239.1 billion, in the three months ended last June, reaching $21.34 trillion.

This came below the current-dollar GDP gain of 3.9% or by $201 billion in the three months ended March.

US price index for gross domestic purchases rose by 2.2% in the period between April and June, bigger than 0.8% in the period between January and March.

Current-dollar personal income grew $244.2 billion in the second quarter, compared with the increase of $269.8 billion seen in the preceding quarter.

Personal savings recorded $1.32 trillion in the three-month period ended last June, compared with $1.37 trillion in the prior period.

By 12:24 pm GMT, the US dollar index went up by 0.14% to 97.95.