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  • Gross Domestic Product (Second Estimate) and Corporate Profits (Preliminary), Second Quarter 2023

    From bea.gov

    Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2023 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 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 2.4 percent (refer to "Updates to GDP"). The updated estimates primarily reflected downward revisions to private inventory investment and nonresidential fixed investment that were ... (full story)

Added at 8:40am

  • GDP revised revised down to 2.1% annual rate in second quarter

    From washingtonexaminer.com

    Economic growth increased at a 2.1% annual rate in the second quarter of this year, a slight downward revision from the preliminary estimate. The latest update, the second of three, indicates that second-quarter GDP growth was higher than the preceding quarter’s 2% clip, showing that the economy has remained robust even as the Federal Reserve continues to hike interest rates in response to inflation. The report shows that consumer spending, as measured by personal consumption expenditures, increased in the second quarter, a sign that U.S. economic activity is still humming despite the central bank’s tightening.

all data USD bad today ...
Follow price direction
As expected, the picture starts to look bleaker by the day. Bad days ahead for US economy.
I wonder now which country economy is going to crash first USA UK or Europe
I think GDP above 2% alredy good.
Quoting rehmatkhan00
I wonder now which country economy is going to crash first USA UK or Europe
Except that Europe is not a country I think Europe is looking worst.
Quoting BaliBoyz80
I think GDP above 2% alredy good.
Yeah it’s not bad but the rate at which positive data is dropping is bad for its currencies I think
Another data point, another major downward revision lower.

In the past month, the Biden Department of Goalseeking Stuff Higher Before Quietly Revising It Lower The Next Month (BDOGSHBQRILNM) has been busy, and after slashing jobs, JOLTS, new home sales, housing starts and permits and industrial production, moments ago it took the machete to Q2 GDP, which in the first revision of the "data" was just cut to 2.1%, down from an initial "red hot" print of 2.4%.
Time for the pantshitter in chief to do more whiteboards.
[quote=Banditten;14555661]{quote} Except that Europe is not a country I think Europe is looking worst.[/quot
Yeah it’s not a country
As China is finding out comes a point where tweaking stimulus is no longer sufficient.
People are turning aside and starting to hunker down.
Market will knee jerk risk on, based upon perception of pivot.

It will take more then a tweak to restart growth. It will take a reset in economic parameters.
For this reason macro environment remains trade for safety first. followed by yield.
Hold the powder, Fade the risk on spike which market appears to be moving towards, based upon a soon to become end of tightening cycle.

I unloaded my EURO/USD short yesterday when the news broke that reality had caught up with Hype.
Now will restart that position when it appears that markets get giddy with idea that every little thing gonna be alright because CB's have backed off.
Sooo, the second-quarter GDP growth was higher than the preceding quarter’s, showing that the economy remained robust even if the Fed continues to hike in response to inflation.
And hike it it will.
Even if the hike may ultimatelly affect communities, families, and businesses on short term.
Even if... you frustrated anti-system clowns stirs the shit up everywhere ...all the time ...since 2014, you fkn experts!
You short-term-obtuse-morons and trumpets here should wake the fk up and realise that without price stability, the economy doesn't work for anyone.
Without price stability, macro will not achieve a sustained period of strong labor market conditions that benefit all.

So you trumpets ...well, second thought, no need to wake up ... just STFU!
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