July 28: U.S. GDP Rose 2.6 Percent in Q2, According to the BEA Advance Estimate

U.S. GDP, after its slump in the first half of last year, is back resting comfortably in its trend 2% real rate of growth path. Inventory, government spending, and other random quarterly events have created the illusion of more volatility than there really is. Real final sales of domestic product was up 2.6% Q/Q SAAR in Q2 compared to 2.7% in Q1. On a Y/Y basis, 2.2% in Q2 and Q1. On the buying side, real final sales to private domestic purchasers was up 2.7% Q/Q SAAR in Q2, a slight slowdown from the 3.1% pace in Q1. On a Y/Y basis – 2.8% in Q1 versus 2.9% in Q1. Read more