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Second-quarter GDP stronger than expected at 2.1%

Post 7198632 View on 8kun

Second-quarter GDP stronger than expected at 2.1%

https://www.foxbusiness.com/

Post 7198706 View on 8kun

Q2 GDP Smashes Expectations As Personal Spending Soars Most Since 2014

If the Fed thought its life was complicated before, when it was expected to cut rates even as the US economy was firing on all cylinders and humming along, Powell's problems just hit nightmare level, following a Q2 GDP print that not only came in far stronger than expected, printing at 2.1%, far above the 1.8% consensus expectation.

See Cap#2

Personal Consumption of 4.3% soared at the highest rate in five years, going back all the way to 2014. See Cap#3

And just in case that wasn't enough, government spending boosted the bottomline Q2 GDP by 0.85%, the biggest contribution to GDP since 2009 as it climbed by a whopping 5%.

But if personal and government spending was the good news, trade was not, as exports subtracted 0.63% from the bottom line, the biggest drop since Q1 2009!

https://www.zerohedge.com/news/2019-07-26/q2-gdp-smashes-expectations-personal-spending-soars-most-2014

some of the voting members of the FOMC will certainly use this as an argument to not lower rates. Fight 'a brewin' here for sure.