GDP Preliminary Q2 Estimates show GDP increased by 1.6%, higher than the expected 1.3% increase, following a 2.4% estimated increase in the advance Q2 estimate (today’s preliminary release is based on a more complete set of data), after increasing by 3.7% in the first quarter of 2010 and 5.6% in the fourth quarter of 2009. The increase in real GDP in the second quarter primarily reflected positive contributions from nonresidential fixed investment, personal consumption expenditures (PCE), federal government spending, private inventory investment, residential fixed investment and exports. Imports, which are a subtraction in the calculation of GDP, increased. The deceleration in real GDP in the second quarter primarily reflected a sharp acceleration in imports and a sharp deceleration in private inventory investment that were partly offset by an upturn in residential fixed investment, an acceleration in nonresidential fixed investment, an upturn in state and local government spending, and an acceleration in federal government spending.
Upcoming Releases
Personal Consumption Expenditures (08/30 at 8:30 AM EST)
Consumer Confidence (08/31 at 10:00 AM EST)
Consumer Confidence (08/31 at 10:00 AM EST)
FOMC Minutes (08/31 at 2:00 PM EST)
ISM Manufacturing Index (09/01 at 10:00 AM EST)
Zacks Investment Research
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: FinancialsMortgage REIT's
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in