The advance estimate for second-quarter GDP growth is a strong 4.2%, up more than 2 percentage points from the first quarter and almost twice the growth rate anticipated by most analysts when the quarter began. Virtually every major sector of the economy posted a healthy increase last quarter, a sign that the prolonged business expansion remains vigorous.
Suggested citation: “Economic Activity,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-08, pp. 09-10, 08.01.1996.