US GDP Growth for Q2 Expanded by 4.2 pc

The American economy had increased its Q2 annual rate at 4.2 percent, according to the Commerce Department on Wednesday. The GDP growth figure for the second quarter came in higher by one-tenth of a percentage compared to earlier forecasts.

The report published by the  Commerce Department on Wednesday was periodic adjustments and the revisions were made since further data were issued. The growth numbers were supported by the decrease in imports, specifically petroleum products, and by some temporary factors. Such factor includes the boost of soybean exports which surge at a faster-than-usual momentum to overcome tariffs levied by China. The latest figures for the second quarter almost doubled the figures in the previous quarter.