US GDP 2007 Q2

The US Commerce Department on Thursday this week boosted its initial estimate of second-quarter 2007 growth in gross domestic product revising the rate from the 3.4 percent advance estimate of a month ago, to the 4.0 per cent in this preliminary estimate. While the second-quarter pace was the fastest since the start of 2006 and eclipsed the first quarter's anemic 0.6 percent rate, many analysts are suggesting that growth has peaked and will slow sharply in coming quarters. Strong business investment and higher exports were a big part of the picture in the second quarter, but this was, of course, before the onset of turmoil in credit markets that is expected to put a brake growth. Here's the chart.