“Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the ‘second’ estimate released by the US Bureau of Economic Analysis. In the first quarter, real GDP increased 1.4 percent. The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, the increase in real GDP was 2.8 percent. The update primarily reflected an upward revision to consumer spending,” says a new US Bureau of Economic Analysis report.