The macroeconomic data for the second quarter represents an acceleration compared to the first quarter of 2024, when the US economy registered a quarter-on-quarter expansion of 0.4%.

The gross domestic product (GDP) of the United States experienced a decrease of 0.7% in the second quarter of 2024 compared to the previous three months, according to the first estimate of the data published this Thursday by the Government's Office of Economic Analysis ( BEA, for its acronym in English).

The macroeconomic data for the second quarter represents an acceleration compared to the first quarter of 2024, when the US economy registered a quarter-on-quarter expansion of 0.4%.

The Bureau has attributed the increase in GDP to increases in household consumption, private investment in inventories, and non-residential fixed investment.

In purely annualized terms, the Bureau's preferred way of presenting the data, US GDP expanded 2.8% in the second quarter of the year, down from a 1.4% annualized increase in the first quarter.