Latest News

BEA: Real GDP decreased at 0.9% Annualized Rate in Q2

0

by Calculated Risk on 7/28/2022 08:38:00 AM

From the BEA: Gross Domestic Product, Second Quarter 2022 (Advance Estimate)

Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 1.6 percent. …

The decrease in real GDP reflected decreases in private inventory investment, residential fixed investment, federal government spending, state and local government spending, and nonresidential fixed investment that were partly offset by increases in exports and personal consumption expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, increased.
emphasis added

PCE increased at a 1.0% rate, and residential investment decreased at a 14.0% rate. Change in private inventories was a huge drag in Q2, subtracting 2.01 percentage points. The advance Q2 GDP report, with 0.9% annualized decline, was below expectations.

I’ll have more later …

Weekly Initial Unemployment Claims at 256,000

Previous article

Yen Surges after Shocking US GDP Data

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News