US Q2 2022 GDP (final reading) -0.6% vs -0.6% expected

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  • Second quarter 2022 GDP final reading
Adam Button


Adam Button

Thursday, 29/09/2022 | 12:30 GMT-0

29/09/2022 | 12:30 GMT-0

  • The second reading on Q2 was -0.6% vs -0.8% expected
  • Q1 was -1.4% annualized
  • Personal consumption +2.0% vs +1.5% second reading
  • GDP final sales +1.3% vs +1.3% second reading
  • Corporate profits after tax +6.2% vs -+9.1% second reading
  • Consumer spending on durables -2.8% vs -0.1% second reading
  • Exports +13.8% vs +17.6% second reading
  • Imports +2.2% vs +2.8% second reading
  • Inventories cut 1.91 percentage points from GDP

The headline here is unchanged but there are some surprisingly big revisions here.

Inflation metrics:

  • Core PCE prices final +5.6% vs +4.4% expected
  • GDP deflator +9.1% vs +8.9% expected
  • PCE prices +7.5% vs +7.1% prior

These inflation numbers were revised surprisingly higher, particularly on the core side.

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