U.S. second-quarter growth slows to 1.7% Economic Report - MarketWatch

U.S. second-quarter growth slows to 1.7% Economic Report - MarketWatch

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In current dollars, the value of the nation’s goods and services is about $14.6 trillion.

For the second quarter, Commerce reported that final sales to domestic purchasers -- which include consumers, businesses and the government -- rose 4.3%.

Exports of goods and services rose 9.1%. However, imports rose 33.5%, the largest jump since 1984.

Personal consumption expenditures rose 2.2%, while gross private domestic investment gained 26.2%.

Government spending and investment rose 3.9%, with a 9.1% gain for the federal government, and 0.6% gain for state and local.

Corporate profits were up 37% compared with the year-ago quarter. After taxes, profits were up 26.5%.

The price index for personal consumption expenditures was up 1.9% from the year-ago quarter. Excluding volatile food and energy, prices were up 1.5%.

Elsewhere Thursday, the Labor Department reported that the number of initial jobless claims fell 16,000 to 453,000, according to the most recent weekly data. Read full story.

Ruth Mantell is a MarketWatch reporter based in Washington.