US Q2 GDP (second reading) +6.6% vs +6.7% expected
The second look at Q2 2021 GDP
- The advance reading on Q2 was 6.5%
- Q1 was 6.4% annualized
- 2020 GDP was -3.4%
- Personal consumption +11.9% vs +11.8% advance reading
- GDP price index +6.1% vs +6.1% advance
- Core PCE +6.1% vs +6.1% expected
- GDP final sales vs +7.7% advance
Details:
- Inventories cut 1.30 pp from GDP vs -1.13 pp in advanced report
- Inventories cut -2.67 pp in Q1
- Business investment 9.3% vs +8.0% advance
- Business investment in equipment +11.6% vs +13.0% advance
- Exports +6.6% vs +6.0% advance
- Imports +6.7% vs +7.8% advance
- Trade was a 0.24 pp drag vs -0.44 pp in advance report
- Home investment -11.5% vs -9.8% advance
- Consumer spending on durables +11.3% vs +9.9% advance
- Personal consumption to pp GDP vs +7.78 pp to GDP
- Government spending cut 0.33 pp vs +0.27 pp in advance report
- Full report
There were some better signs here on business investment and trade while the consumer data was largely unchanged.
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