Consumer spending “solid”; US Q2 GDP growth beats forecasts

27 July 2023

 

Summary: US GDP up 0.6% (2.4% annualised) in June quarter, above expectations; NAB: report details impressive; ANZ: slowing in real personal consumption growth will be welcomed by FOMC; GDP price deflator rate slows from 5.3% to 3.6%. US GDP growth slowed in the second quarter of 2019 before stabilising at about 0.5% per quarter.  At the same time, US bond yields suggested future growth rates would be below trend. The...

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