US: Downward pressure on GDP? – TD Securities

Sandeep Kanihama FXStreet Contributor

Analysis team at TD Securities note that the US Q2 GDP data was revised slightly lower in the second update to 2.0% from 2.1% before, as expected.

Key Quotes

“The headline print, however, masks important shifts in its components as personal consumption increased more than initially penciled (4.7% vs. 4.3%), with that improvement being upset by the rest of the components. Notably, Q2 residential investment growth was revised even lower to -2.9% from -1.5%.”

“Separately, the update on core prices disappointed to the downside again, with the q/q annualized rate revised a tenth lower to 1.7%. This suggests a more subdued than expected path for inflation during the first half of the year.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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