GDP (seasonally adjusted) for Q2, final, q/q: -1.8%

  • expected -1.8%, prior -1.7%

GDP Annualized (seasonally adjusted) for Q2, final y/y: -7.1%

  • expected -7.0%, prior -6.8%

GDP Nominal (seasonally adjusted) for Q2, final q/q: -0.2%

  • expected -0.1%, prior -0.1%

GDP Deflator y/y for Q2, final: +2.0%

  • expected +2.0%, prior +2.0%

Q2 (final) GDP Consumer Spending q/q -5.3%

  • expected -5.0%, prior was -2.5%

Q2 (final) GDP Business Spending -5.1% q/q

  • expected -3.4%, prior -2.5%

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  • Q2 GDP revised lower (y/y) in this ‘final’ estimate, the ‘preliminary’ had it -6.8% …. now to -7.1%
  • GDP contracts the most since Q1 2009

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A few minutes later (as I update this post) the USD/JPY is barely changed

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Added – from Bloomberg on the web:

  • “The negative impact on demand was bigger than people initially thought in the second quarter and it’s casting a shadow over the third quarter too,” Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management Co. in Tokyo, said before the report. “A recovery is underway this quarter but the momentum may be sluggish.”