U.S. final Q2 GDP data
SPY•Final Q2 GDP growth was revised to an annualized 2.2% from 1.5%; corporate profits after tax rose 7.7%.
1. GDP and prices
The Commerce Department’s Bureau of Economic Analysis reported final Q2 GDP growth of 2.2%, up from the preliminary estimate of 1.5%. Final sales rose 2.8%, consumer spending increased 3.8%, and the core PCE price index rose 3.3%.
2. Corporate profits
Corporate profits after tax rose 7.7% in Q2, compared with a previous estimate of 8.2%. Economists surveyed had forecast final GDP growth of 1.5% and a 3.6% increase in the core PCE price index.
