- Prior estimate 3.0%
- GDP 2nd revision 3.3% vs 3.1% estimate
- Sales Preliminary Q2 6.8% vs 6.3% last
- Consumer spending Prel. 1.6% vs 1.4% last
- GDP deflator 2.0% vs 2.0% estimate. Last 2.0%
- Core PCE Prices prelim. 2.5% vs 2.6% est. Last 2.5%
- PCE prices preliminary 2.0% vs 2.1% preliminary
- PCE ex food and energy housing 2.2% versus 2.2% preliminary
- PCE Services ex energy and housing 2.1% vs 2.3%
Contributors to the 3.3% growth:
- Consumer spending +1.07%
- Investment -2.70%
- Government -0.03%
- Net trade +4.95%
Wersus Q1:
- consumer spending +0.31%.
- Investment +3.9%.
- Government +0.10%.
- Net trade -4.61%
The decline Q1 were gains in Q2 with tariff impact evident.
The data is old news better and quarter data makes the start point for the current quarter a higher level.
US stocks are marginally higher:
- Dow industrial average up 80 points
- S&P up 3.35
- NASDAQ index up 3.15%
This article was written by Greg Michalowski at investinglive.com.
