US: Real GDP increased at an annual rate of 3.1% in the second quarter of 2017

"Real gross domestic product (GDP) increased at an annual rate of 3.1 percent in the second quarter of 2017, according to the "third" estimate,' said the Bureau of Economic Analysis on Thursday.

Key quotes:

• In the first quarter, real GDP increased 1.2 percent.
• In the second estimate, the increase in real GDP was 3.0 percent.
• With this third estimate for the second quarter, private inventory investment increased more than previously estimated, but the general picture of economic growth remains the same. 
• Real gross domestic income (GDI) increased 2.9 percent in the second quarter, compared with an increase of 2.7 percent in the first.
• The acceleration in real GDP in the second quarter reflected an upturn in private inventory investment, an acceleration in PCE.
• The price index for gross domestic purchases increased 0.9 percent in the second quarter, compared with an increase of 2.6 percent in the first quarter.