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The
Bureau
of Economic Analysis (BEA) estimated 2Q2015 growth in real U.S. gross
domestic product (GDP ) at a seasonally
adjusted and annualized rate of 3.70%, up +1.38 percentage points from the
previous (“advance”) estimate and up +3.06 percentage points from 1Q. All
groupings of GDP components contributed to 2Q growth: Personal consumption
expenditures (PCE), private domestic investment (PDI), net exports (NetX), and
government consumption expenditures (GCE).
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This
report included significant upward revisions to the growth rate contributions
from commercial fixed investment (+0.52%), inventories (+0.30%, or a record
$136.2 billion QoQ change in nominal SAAR terms) and government spending (+0.33%).
Consumer spending was revised upward a more modest +0.13%, and the net impact
of exports and imports was also revised upward +0.10%.
The foregoing comments represent the
general economic views and analysis of Delphi Advisors, and are provided solely
for the purpose of information, instruction and discourse. They do not
constitute a solicitation or recommendation regarding any investment.
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