Real gross domestic product increased at an annual rate of 1.2 percent in the second quarter of 2016, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.8 percent (revised).Current-dollar GDP increased 3.5 percent (table 1), or $155.9 billion, in the second quarter to a level of $18,437.6 billion. In the first quarter, current dollar GDP increased 1.3 percent (revised), or $58.9 billion.
The price index for gross domestic purchases increased 2.0 percent in the second quarter, compared with an increase of 0.2 percent in the first (revised). The PCE price index increased 1.9 percent, compared with an increase of 0.3 percent. Excluding food and energy prices, the PCE price index increased 1.7 percent, compared with an increase of 2.1 percent
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