Q2 GDP Surges 4%, Beats Estimates Driven By Inventories, Fixed Investment Spike; Historical Data Revised
Here is a breakdown of where the GDP growth came from.
This is how Bloomberg presented the data.
- 2Q personal consumption up 2.5% vs est. up 1.9% (range 1.5%-2.9%); prior revised to 1.2% from 1%
- Core PCE q/q 2% vs est. 1.9% (range 1.4%-2.3%)
- Gross private investment up 17% in 2Q after falling 6.9% in 1Q
- Residential up 7.5% after falling 5.3%
- Purchases of durable goods jumped 14%, most since 3Q 2009
- Corporate spending up 5.9% vs little changed q/q
- Inventory accumulation added 1.7ppts to GDP
Interesting that the markets have pulled back since the news. Now I guess we wait for the FOMC minutes.
Too much bluff
Indicators are rolling over. Hui/xau/gold headed lower. First stop is 225 hui Gap. Like Doc says we will see what picture it paints at that point.
Still on the sidelines waiting to engage.
as I said before……..they can not manipulate the sidelines……..
Something is not right here… when gdp down by 2.9% … dow jones went up … and now gdp up 4% … yet dow jones goes down … seems the big banks and the fed are offloading their stocks … that number … 4 … is jinx … chinese assume that just like the western see 13
Wolfgang Puck, Mario Batali, Bobby Flay, Jamie Oliver, Rachel Ray and Paula Deen all put together couldn’t have done a better job of cooking this number than did these statistics-foisting criminals.
There is Wall Street saying that goes like this: Bull markets end on good news, not bad. Now that the economy is “booming,” Yellen could start raising interest rates and end QE immediately. Let’s go.