Real gross domestic product (GDP) increased 4.1% in the second quarter of 2018, according to the “advance” estimate released by the Bureau of Economic Analysis. Core PCE +2.0% vs +2.2% expected
Real gross domestic product (GDP) increased 4.1% in the second quarter of 2018, according to the “advance” estimate released by the Bureau of Economic Analysis. Core PCE +2.0% vs +2.2% expected
GDP highlights
Growth
- US Q2 advance GDP +4.1% vs +4.2% expected Prior 2.0%
- Personal consumption +4.0% vs +3.0% expected Prior +0.9%
- Inventories cut 1.00 percentage points from growth
- Exports +9.3%
- Imports +0.5%
- Home investment -1.1%
- Business investment +7.3%
- 2017 GDP revised to 2.2% from 2.3%
- 2017 personal savings revised to +6.7% from +3.4%
Inflation
- GDP price index +3.0% vs +2.3% expected Prior +2.2%
- Core PCE +2.0% vs +2.2% expected Prior +2.3%
The acceleration in real GDP growth in the second quarter reflected accelerations in PCE and in exports, a smaller decrease in residential fixed investment, and accelerations in federal government spending and in state and local spending. These movements were partly offset by a downturn in private inventory investment and a deceleration in nonresidential fixed investment. Imports decelerated.
Current-dollar GDP increased 7.4 percent, or $361.5 billion, in the second quarter to a level of $20.4 trillion. In the first quarter, current-dollar GDP increased 4.3 percent, or $209.2 billion (table 1 and table 3A).
Source: Bureau of Economic Analysis
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