US GDP

GDP revised lower.

The Q2 final reading was +2.1%

Details:

  • Consumer spending +3.1% vs +3.6% prelim
  • Consumer spending on durables +6.7% vs -0.3% prior
  • GDP final sales +3.6% vs +3.7% prelim
  • GDP deflator +3.3% vs +3.5% prelim
  • Core PCE +2.0% vs +2.3% prelim
  • Corporate profits +3.7% vs +4.1% prelim
  • Business investment +5.2% vs +3.9% prelim

Percentage point changes:

Net trade +0.03 pp vs -0.04 pp prelim
Inventories +1.27 pp vs +1.40 pp prelim
Govt +0.99 pp vs +0.94 pp prelim