The keepers of GDP continually update their calculations as more information becomes available.

Depending on how you measure it, the economy either grew or shrank, according to BEA statistics.

Gross domestic product has been the standard measure for economic growth since 1944, but it doesn’t measure the quality of life.

Consumer spending, which accounts for most of GDP, grew more in the second quarter than initially reported.

Economists expected a downturn in economic growth from the first quarter’s 2% annual rate. Instead, growth accelerated to 2.4%.

There is a longstanding debate about whether the data is accurate. Some are skeptical of government officials’ projections of 5% growth.

Reduced government spending can have an impact on the broader economy. But economists say the effects will likely be limited.

Profits fell for the second quarter in a row, partly due to Fed rate hikes. Whether it’s a good thing depends on your role in the economy.

Zanny Minton Beddoes, editor-in-chief of The Economist, explains why the U.S. economy may be stronger than it looks.

Inflation was up and inventories down, but consumer spending kept GDP growing — albeit at a slower pace.