US GDP second estimate revised down, but upward of forecast

The Bureau for Economic Analysis released today the second estimate for Q2 GDP at 1.6% growth, a heavy foot on the breaks from the first quarter's 3.7%. However, the revision was expected to land at 1.4% from the Q2 first estimate of 2.4%.

The release also includes the Gross Domestic Purchases Price Index showing that inflationary pressures remain low. The indicator stayed put at 0.1%, turning a blind eye on the 1.8% forecast. 

Real Personal consumption Expenditures QoQ rose from a revised 1.9% to 2.0% bypassing expectations of a drop to 1.7%.

Gross Domestic Product Annualized

1.6%

Actual

1.4%

Consensus

2.4%

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