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Thursday, August 27, 2015

'Q2 GDP Revised up to 3.7%'

Are you as convinced as Tim is that rate hikes are off the table at the Fed's next meeting?:

Q2 GDP Revised up to 3.7%, by Bill McBride, Calculated Risk: From the BEA: Gross Domestic Product: First Quarter 2015 (Third Estimate)

Real gross domestic product -- the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production, adjusted for price changes -- increased at an annual rate of 3.7 percent in the second quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.6 percent.

The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was 2.3 percent. With the second estimate for the second quarter, nonresidential fixed investment and private inventory investment increased. ... [emphasis added]

Here is a Comparison of Advance and Second Estimates. PCE growth was revised up from 2.9% to 3.1%. Residential investment was revised up from 6.6% to 7.8%.

Solid growth. And above the consensus of 3.2%.

    Posted by on Thursday, August 27, 2015 at 09:42 AM in Economics, Monetary Policy | Permalink  Comments (43)


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