The third look at Q2 GDP
- The first estimate was +2.6%
- Second estimate +3.0%
- The personal consumption of +3.3% against +3.3% in the second estimate
- GDP price index to 1.0% against +1.0% in second estimate
- Core PCE q/q +0.9% vs. +0.9% in second estimate
- Imports +1.5% vs. +1.6% prior
- Exports +3.5% vs. +3.7% prior
- The investment house -7.3% vs -6.5% prior
There is a slight improvement in the title, which is good news for growth. The bad news is that corporate profits after tax has been revised from +0.1% for +0.8%.
Stocks added to 0.12 pp to the growth. Inventories were up $5.5 B, compared to a $ 1.8 B is the second estimate.