Second Quarter GDP Tops Expectations

July 27, 2012 03:39 AM

The advance estimate showed gross domestic product (GDP) increased at an annual rate of 1.5% for the second quarter of 2012. While this is below 2.0% growth in the first quarter, the rate of growth was slightly better than expectations for 1.3% growth.

Nevertheless, this confirms tepid economic growth in the U.S. as growth at or below 2% is not enough to improve the unemployment rate, which was most recently pegged at 8.2%. Investors displayed increased risk appetite following the release, pushing the stock market higher.

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