Highlights of the second reading of the US GDP report
- First reading was 2.6%
- Personal consumption 4.2%
- First reading on personal consumption was 4.3%
- GDP sales 2.1% vs 1.6% exp
- Inventories add 0.12 percentage points to GDP
- US GDP ex-motor vehicles +2.9% vs +3.5% previously
- Exports +3.2% vs +2.8% previously
- Imports +10.1% vs +8.9% previously
- Business investment in structures +5.0% vs +2.6% previously
Inflation:
- Core PCE 1.1% vs 1.1% exp
- GDP deflator 0.1% vs 0.0% exp
Nothing immediately jumps out. Trade was a bit stronger and vehicles added less to GDP than believed and that's a good sign for growth last year and going forward.