Advance Q2 reading was +2.8% annualizedFinal Q1 reading was +1.4% annualized
Details:
Consumer spending +2.9% vs +2.0% advance Consumer spending on durables+4.9%GDP final sales 2.2% vs +2.0% advanceGDP deflator +2.5% vs +2.3% advanceCore PCE +2.8% vs +2.9% advance Business investment +4.6% vs +5.2% advancePCE services inflation excluding energy and housing 2.3% vs 3.3% advanceCorporate profits prelim +1.7% vs -2.7% prior
Contributors and subtrators to the 3.0% growth:
Consumption: +1.95% (vs +1.57% advance, last quarter +0.98%)Government: +0.46% (vs +0.53% advance, last quarter +0.31%)Net International Trade: -0.77% (vs -0.72% advance, last quarter -0.65%)Inventories: +0.78% (vs +0.82% advance, last quarter -0.42%)
This article was written by Adam Button at www.forexlive.com.
