2Q GDP rev up to +3.0% SAAR (expected from..>

US DATA: 2Q GDP rev up to +3.0% SAAR (expected +2.7%) from +2.6% in 

the advance estimate on strong upward revisions to PCE (both goods and 

services) and nonresidential fixed investment. There also smaller upward 

revisions to residential investment (to a smaller negative), inventories 

(now positive), and net exports (narrower). The only negative was a 

downward revision to govt spending, particularly state and local. GDI 

+2.9% vs +2.7% in 1Q, putting the GDP/GDI average at +3.0% vs +2.0% in 

1Q. Real final sales were revised up to +3.0% vs +2.6% in advance 

estimate. The prices measures were largely unrevised, with the GDP price 

index staying at +1.0%, as expected, and the closely watched core PCE 

unrev at +0.9%, keeping the y/y rate at +1.5%, still down from +1.8% in 

1Q. Overall, the data suggest a stronger rebound from 1Q's slowdown than 

previously reported, with price gains still contained.