Q2 GDP revised up to +4.2% SAAR vs +4.1% as.>

US DATA: Q2 GDP revised up to +4.2% SAAR vs +4.1% adv, as opposed to the 

downward adjustment to +4.0% expected, with the key upward revisions 

seen in nonresidential fixed investment, inventories, and net export gap. 

- The prices measures were little revised. The overall GDP price index 

still +3.0%, while the closely watched core PCE price measure was 

unrev at +2.0%, keeping the y/y rate at +1.9%, still up from +1.7% in Q1. 

- Nonresidential fixed investment rev up sharply to +8.5% from +7.3% adv 

due to large upward adjustment to intellectual property prices.

- Real PCE was revised down to a +3.8% pace from the +4.0% advance 

estimate, with a downward revision to goods spending and no adjustment 

to services spending. The savings rate was unrev at 6.8%. 

- Due to the mix of revisions, real final sales of domestic product were 

rev up to +5.3% vs +5.1% in adv estimate, while sales to domestic 

purchasers were unrev at +3.9% adv.