Real GDP grows at an annual rate of 2.1% in Q2 as expected

• The US economy grew at an annual rate of 2.1% in Q2 as expected.
• The US Dollar Index stays in negative territory below 106.50.

The real Gross Domestic Product (GDP) of the United States expanded at an annual rate of 2.1% in the second quarter, the US Bureau of Economic Analysis’ (BEA) final estimate showed on Thursday. This reading came in line with the previous estimate and the market expectation.

“The update primarily reflected a downward revision to consumer spending that was partly offset by upward revisions to nonresidential fixed investment, exports, and inventory investment,” the BEA said.

“Imports, which are a subtraction in the calculation of GDP, were revised down,” the publication read.

Market reaction

The US Dollar stays on the back foot after this data. As of writing, the US Dollar Index was down 0.4% on the day at 106.24.