US growth revised higher in Q2
The US economy grew more than previously anticipated in the second quarter, according to a final growth reading, published by the Commerce department. Data also showed better consumer spending in the second quarter which helped better growth.
GDP Annualized was revised to 1.3% from a previous estimate of 1.0%, and better than consensus 1.2%. GDP deflator q/q also inched higher to 2.6% from 2.5% versus consensus for 2.4%.
Personal consumption indicators were also better than expected with PCE q/q improving to 3.3% from 3.2% and PCE core q/q rose to 2.3% versus expectations for an unchanged reading of 2.2%. Consumer spending rose to 0.7% in Q2 from 0.4% the previous quarter.
RTFX Ltd (“RTFX”) is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX at the time of preparation. They are thus subject to change without notice. RTFX believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX or any director, officer or employee.