June 27, 2024 at 01:30PM
Second reading was +1.3%
Final Q4 reading was +3.2% annualized
Q3 was +5.2% annualized
Details:
Consumer spending +1.5% vs +2.0% second reading
GDP final sales +1.8% vs +1.7% second reading
GDP deflator +3.1% vs +3.1% second reading
Core PCE +3.7% vs +3.6% second reading
Corporate profits -2.7% vs -1.7% in second reading
PCE services inflation excluding energy and housing +5.1% vs 4.9% second reading
What’s the signal here? Higher inflation. Or lower consumer spending signalling downward pressure on prices? I’d ignore both as this is stale data with the second quarter now just a few days away.
This article was written by Adam Button at www.forexlive.com.
US Q1 final GDP 1.4% vs 1.3% expected