GDP grew 6.5% last quarter

Gross domestic product (GDP), which estimates the size of the US economy, grew at an annualized rate of 6.5% in the second quarter of 2021. This growth fell below projections of economic growth nearing 8% — like those of the Atlanta Federal Reserve and the Philadelphia Federal Reserve's survey of professional forecasters — but above projections by the New York Federal Reserve and others. The annualized GDP growth rate measures how much the economy would grow in a year if the quarterly place of growth were maintained for 12 months.