The Bureau for Economic Analysis released today the second estimate for Q2 GDP at 1.6% growth, a heavy foot on the breaks from the first quarter's 3.7%. However, the revision was expected to land at 1.4% from the Q2 first estimate of 2.4%.
The release also includes the Gross Domestic Purchases Price Index showing that inflationary pressures remain low. The indicator stayed put at 0.1%, turning a blind eye on the 1.8% forecast.
Real Personal consumption Expenditures QoQ rose from a revised 1.9% to 2.0% bypassing expectations of a drop to 1.7%.
