Washington, Sep 30 (IANS) The US economic grew at a rate of 1.3 percent in the second quarter, the Commerce Department said Thursday.
The growth in the April-July period reflected a boost from consumer spending and trade.
The sub-par economic growth rate follows an anemic economic growth pace of 0.4 percent in the first quarter of this year, Xinhua reported.
Some economists held that the US can see a stronger economic growth in the second half of this year, but the nation will continue to tackle a string of economic challenges.
The increase in gross domestic product (GDP) in the second quarter primarily reflected positive contributions from nonresidential fixed investment, personal consumption expenditures, exports, and federal government spending.
Real federal government consumption expenditures and gross investment increased 1.9 percent in the second quarter, in contrast to a decrease of 9.4 percent in the first.
US corporate profits from current production increased $61.2 billion in the second quarter, compared with an increase of $19 billion in the first.
