GDP Overview - Second quarter GDP grew 3%, exceeding the forecast of 2.6% and up from 0.5% in the first quarter [1] - Personal consumption increased by 1.4%, slightly below the anticipated 1.5% [2] Investment Trends - Gross domestic private investment, nonresidential fixed, decreased to 1.9% from 10.3%, indicating businesses were holding off on spending [2][3] - Equipment spending slowed to a 4.8% gain from a 23.7% gain [3] - Intellectual property, software, etc, rose slightly to 6.4% from 6% [3] Trade and Inventory - Exports were down 1.8%, while imports were down 30.3% after rising 37.9% in the first quarter, indicating an import-driven story [3][4] - Inventories decreased by $585.5 billion, contrasting with a $151.6 billion increase in the first quarter [4] Sales Analysis - Real final sales to domestic purchasers were at an annualized rate of 1.1%, down from 1.9% in the first quarter [5]