Economy grows at 1.3 percent in 2Q

Author:
Updated:
Original:

The nation's gross domestic product grew at a slim rate of 1.3 percent in the second quarter and government figures also showed that growth in the previous quarter was much slower than initially believed.

GDP, the broadest measure of U.S. economic health, rose at a revised rate of 0.4 percent in the first quarter, the Commerce Department said. The government originally reported that the economy grew at an annualized rate of 1.9 percent during the first three months of the year.

Second-quarter growth was lower than the 1.8 percent that economists surveyed by CNNMoney expected.

Overall, consumer spending, which accounts for roughly 70 percent of GDP, rose only 0.1 percent in the second quarter, a significant drop from growth of 2.1 percent in the first three months of the year.

Click here for the full report.

Related

Royal Huisman to Launch 171-foot Sportfish

The Dutch yard is collaborating with Vripack for what it calls the “world’s largest true sportfish yacht.”

A Luxury Tax in Canada?

The proposed federal budget includes a tax on luxury goods, including boats and cars.

American Boating Congress Starts Tomorrow

Registration is still open for the two-day virtual event, which runs April 21-22.

ABC, Easy as 1-2-3

The virtual American Boating Congress opens tomorrow, and it’s not too late to register and take part in this important industry event. Also, NOAA launches a series of fishing videos that cover a range of topics, from sustainability to angling opportunities.

NOAA to Outline Reef Restoration

The agency’s Mission: Iconic Reefs project aims to restore more than 3 million square feet of coral in the Florida Keys National Marine Sanctuary.

Virtual Premieres

Sunseeker will livestream the debuts of five models during the next few weeks, starting today with the Manhattan 55 and Predator 55 EVO.

QMI-Multiflex Partners With Rep Firm

William F. Miller and Associates will represent the OEM supplier in the South and Midwest.