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The third and final cut for the 2Q GDP
- The final US 2Q GDP came in slightly better than expected at -31.4% vs. -31.7% estimate
- prior estimate came in at -31.7%
- US exports -64.4% vs. -63.2% previous
- imports -54.1% vs. previous -54.0%
- business inventories change cuts 3.5 percentage points from GDP with a $-287 billion vs. $-286.4 billion
- consumption -33.2% vs. -34.1% previous
- private investment -46.6% vs. -46.2% previously
- government +2.5% vs. +2.8% previously
- GDP price index came in at -1.8% vs. -2.0% estimate. Last -2.00%
- core PCE quarter on quarter came in at -0.8% vs. -1.0% estimate. Last -1.0%
The worst GDP on record but it is old news now. The 3Q will see a rebound in the data. but traders might not be influenced by the numbers until the 4th quarter data (if there is no further shutdowns)
This article was originally published by Forexlive.com. Read the original article here.