Loading ...government spending boosted the bottomline Q2 GDP by 0.85%, the biggest contribution to GDP since 2009 as it climbed by a whopping 5%.
But if personal and government spending was the good news, trade was not, as exports subtracted 0.63% from the bottom line, the biggest drop since Q1 2009!
Residential investment was also ugly, dipping for a sixth straight quarter, the longest streak since 2009.
Looking at all the components, the Q2 increase in real GDP reflected increases in consumer spending and government spending, while inventory investment, exports,=. Imports, which are a subtraction in the calculation of GDP, increased.