US Q2 2022 GDP (second reading) -0.6% vs -0.8% expected

• 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 US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term is doing a bit better after the data. The ex motor vehicles number was revised to -0.6% from -1.0%.