Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The US’ GDP increased at a rate of 6.5pc in the second quarter, slightly above 6.3pc in the previous quarter, according to early estimates released by the US Bureau of Economic Analysis.


The bureau attributed the increase to a rise in consumption, exports, government spending, and non-residential investments across the country. However, it noted that a decline in housing and private investments and an increase in imports kept the country’s GDP below the industry outlook of an 8.4pc growth.


Still, overall, pent-up demand across various sectors and continued economic recovery after the COVID-19 related shutdowns last year helped the GDP’s growth.

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