US: Real GDP expands by 6.6% in Q2 vs. 6.7% expected

• US BEA revised annualized Q2 GDP growth to 6.6% from 6.5%.
• US Dollar Index continues to move sideways below 93.00. 

The United States' Real Gross Domestic Product (GDP) expanded at an annual rate of 6.6% in the second quarter, the US Bureau of Economic Analysis' (BEA) second estimate showed on Thursday. This reading followed the first estimate of 6.5% and came in below the market expectation of 6.7%.

"The update reflects upward revisions to nonresidential fixed investment and exports that were partly offset by downward revisions to private inventory investment, residential fixed investment, and state and local government spending," the BEA explained in its press release. "Imports, which are a subtraction in the calculation of GDP, were revised down."

 Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen posting small daily gains at 92.86.