{"id":257707,"date":"2024-08-29T19:08:16","date_gmt":"2024-08-29T19:08:16","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/29\/gdp-2nd-release-for-q2\/"},"modified":"2025-06-25T17:11:40","modified_gmt":"2025-06-25T17:11:40","slug":"gdp-2nd-release-for-q2","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/29\/gdp-2nd-release-for-q2\/","title":{"rendered":"GDP 2nd Release for Q2"},"content":{"rendered":"

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Revised up 0.2 ppts, 0.2 ppts above consensus. Final sales up 0.2 ppts. GDO rises 2.1% q\/q SAAR.<\/p>\n

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Figure 1:<\/strong> GDP (bold black), GDO (tan), and GDP+ (green), GDPNow of 8\/26 (sky blue square), all in bn.Ch.2017$ SAAR. GDP, GDO based on 2nd release. GDP+ iterated on 2019Q4 GDP level. Source: BEA, Philadelphia Fed (July release)<\/a>, Atlanta Fed<\/a>, author\u2019s calculations.<\/em><\/p>\n

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Figure 2:<\/strong> Quarter-on-Quarter growth of GDP (bold black), GDPNow of 8\/26 (sky blue square), final sales (red), all SAAR. GDP based on second release. Source: BEA, Atlanta Fed<\/a>, author\u2019s calculations.<\/em><\/p>\n

So, GDP and final sales growth exceeds trend in Q2, and GDPNow as of 3 days ago is at trend. GDP > final sales implies some retrenchment in Q3 given inventory accumulation.<\/p>\n

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