5 Wall Street banks discuss next Fed moves after a blowout US Q2 GDP report
The U.S. economy displayed more robust growth than anticipated for the second quarter, with real GDP increasing by 2.8% on a quarterly basis. This surge has brought the year-over-year gain to 3.1%. The data revealed that real consumer spending on services was a significant contributor to this stronger-than-expected performance.
The GDP deflator, an inflation indicator that reflects the difference between nominal and real GDP, went up by 2.3%. Meanwhile, nominal GDP, which is not adjusted for inflation, saw a rise of 5.2%. These figures suggest that the economy is expanding at a healthy pace, with inflationary pressures being evident but not outpacing the growth in real output.:"Fed officials will breathe some sigh of relief that final private domestic demand at 2.6% was equally as strong as in Q1.
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