Whoops! Q2 GDP Revised Downwards To 1.1%, Core PCE Rises To 1.8%

by Anthony B. Sanders
Anthony B. Sanders’ Blog

The Bureau of Economic Analysis has released their revision of Q2 GDP. It was revised downwards to an anemic 1.1%.

As a reminder, gross private domestic investment fell -9.7% in Q2, the worst reading since 2012.

[…] At the same time, core personal consumption growth QoQ rose to 1.8%.

[…] With core PCE growing to 1.8% QoQ, we would expect an increase in the Taylor Rule estimate of The Fed Funds Target rate (ceteris paribus).

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