U.S. GDP Grew 2.3% in Second Quarter

Rising Tide

Updated Apr. 14, 2017 10:27AM EDT / Published Jul. 30, 2015 10:14AM EDT

The U.S. economy got back to growth in the second quarter of 2015, with gross domestic product increasing at a 2.3 percent annual rate, according to Commerce Department data. Even better: First-quarter GDP was revised to a 0.6 percent annual growth rate—a turnaround from the initial estimate that showed it had shrunk by 0.2 percent. Analysts said the growing labor market and increased consumer spending contributed to the expansion, and could lead Fed officials to raise interest rates in September, the first time since 2006. “We had better growth and better inflation in the first half. This should make the Fed feel more comfortable about raising rates this year,” said Eric Green, head of U.S. economic research at TD Securities in New York.

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U.S. GDP Grew 2.3% in Second Quarter