The Department of Commerce reports that second quarter annualized real GDP growth was 2.6%, and current-dollar growth was 5.9%. But if one uses the two-quarter method to estimate annualized growth, the numbers are 4.1% and 7.5% respectively. (Although both methods are factual statements of what the growth rate has been, the two-quarter method has a better track record of predicting future growth for the upcoming year.)
The math to calculate growth either way can be found here. The chart below shows real and nominal GDP, and all four growth numbers.
