US GDP final Q2 2017 3.1% vs 3.0% exp

by | September 28th, 2017, 12:30:08 | Economic Data, US

Details from the final Q2 2017 US GDP report 28 September 2017

  • Prior rev 3.0%. Flash 2.6%. Q1 1.4%
  • Final sales 2.9% vs 3.0% exp. Prior 3.0%
  • Consumer spending 3.3% vs 3.3% prior
  • PCE final 0.3% vs 0.3% exp . Prior 0.3%
  • Core PCE 0.9% vs 0.9% exp. Prior 0.9%
  • Corp profits (current production) 0.7% vs 1.3% prior. Q1 -2.1%
  • Corp income tax 2.9% vs 3.0% prior. Q1 -0.7%
  • After tax profits 0.1% vs 0.8% prior. Q1 -2.6%

A tick up in GDP to end Q2 but little change elsewhere.

Also out;

  • August 2017 Goods trade bal -62.9bn vs -65.1bn exp. Prior -65.1bn revised to -63.9bn
  • August 2017 Advance wholesale inventories 1.0% vs 0.4% exp m/m. Prior 0.6%
  • August 2017 Retail inventories 0.7% vs -0.2% prior. Revised to -0.1%

Nothing here for markets to trade on. It’s a fairly solid finish for Q2 and as long as Q3 holds up, there will be no change to hike expectations for Dec. The higher inventory data might be worth keeping an eye on though.

Ryan Littlestone
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