The third look at second quarter US GDP for 2018

  • The second reading was +4.2%

  • Q1 growth was 2.2%

  • H1 growth 3.2%

  • Business inventories -$36.8B vs -$26.9B previously

  • Inventories cut 1.17 percentage points from GDP

  • GDP ex motor vehicles +4.5% vs +4.5% previously

  • Home investment -1.3% vs -1.6% previously

  • Final Q2 GDP deflator +3.3% vs +3.2% previously

  • Consumer spending +3.8% vs +3.8% previously

Growth was unrevised and remained at the fastest pace in nearly four years.