- The advance reading on Q2 was -0.9% vs +0.5% expected
- Q1 was -1.4% annualized
- Personal consumption +1.5% vs +1.1% advance reading
- Core PCE prices +4.4% vs +4.4% expected
- PCE prices +7.1% vs +7.1% advance
- GDP final sales +1.3% vs +1.1% prelim
- Corporate profits after tax +9.1% vs -4.9% in Q1
- Consumer spending on durables -0.1%
Percentage point changes:
- Inventories cut 1.83 pp vs 2.01 pp in advance
- Goods cut 0.57 pp vs 1.08 pp in advance
- Services added 1.56 pp vs 1.78 pp in advance
- Gross private domestic investment -2.67 pp vs -2.73 pp
- Net exports +1.42 vs +1.43 pp
- Government spending -0.32 pp vs -0.33 pp
The US dollar is doing a bit better after the data. The ex motor vehicles number was revised to -0.6% from -1.0%.