Q2 GDP Beats Expectations, Rises To 2.5%

GDP was revised to 2.5%.

Analysts were expecting an upward revision to 2.2% .

"Stepped-up business spending, narrower trade gap point to significant mark-up to Q2 growth," said Societe Generale's Brian Jones. "Data released since the Bureau of Economic Analysis’ first pass at Q2 growth suggest that the pace of real business activity was substantially quicker than the 1.7% annualized advance estimate."