The U.S. Commerce Department released the Gross Domestic Product third estimate for the second quarter of 2011, where GDP expanded by 1.3%, compared with the prior expansion of 1.0%, and better than median estimates of 1.2 percent, as personal consumption increased by 0.7%, better than that prior estimate worth 0.4 percent and median estimates of 0.4 percent.

The GDP price index rose by 2.5%, compared with the prior and expected rise of 2.4%, while core PCE rose in the second quarter by 2.3%, above the prior and expected estimates of 2.2%.