Q2 GDP fell 1%, .5% better than expected but the breakdown was very mixed as NOMINAL GDP fell more than expected as the deflator rose just .2% vs expectations of a gain of 1%. If the deflator was in line, REAL GDP would have fallen 1.8%. Personal consumption dropped 1.2%, .7% more than the consensus and which makes up a large majority of GDP. Inventories took .8% off GDP, down from the sharp 2.4% pull in Q1. Net exports added 1.4% after adding 2.6% in Q1. Real final sales, which takes out the impact of inventories, fell .2%, a sharp improvement from the decline of 4.1% in Q1 and 4.7% in Q4. Government spending added 1.1% to GDP. Residential construction fell 29.3%, non residential structures fell 8.9% and spending on equipment and software fell by 9%, much slower than the decline of 36.4% in Q1. Bottom line, we are set up for an improvement in inventories and trade but consumer spending still remains in question.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.