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July 25, 2024US GDP 2024 Q2 (ADVANCED ESTIMATE) 
The Bureau of Economic Analysis released the advanced estimates of Q2 2024 US Real Gross Domestic Product (GDP).
US real GDP growth was estimated at 2.8% (seasonally adjusted annualized rate) in Q2 2024 in the first estimate.
The increase in real GDP was supported by increases in consumer spending (+2.3%), exports (+2.0%), state and local government spending (+2.6%), non-residential investment (+5.2%) and federal government (nondefense) spending (+2.2%). These gains were partially offset by residential fixed investment (-1.4%), greater imports (+6.9%), which are a subtracted in the GDP calculation.
Current-dollar GDP growth was 5.2% (annualized rate) following an 4.5% current-dollar GDP increase in Q1 2024.
Private inventory investment was estimated at $71.3 billion net accumulation.
Source: US Bureau of Economic Analysis, Key source data, retrieved from Federal Reserve Bank of St. Louis.
Next release is on August 29, 2024.
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