Q2 GDP unrevised at +4.2% SAAR as expected,.>

US DATA: Q2 GDP unrevised at +4.2% SAAR as expected, with upward 

revisions to nonresidential fixed investment, residential fixed 

investment, and government spending, and a slight narrower net export 

gap, all of which were offset by a sharp downward revision to inventories.

- Real PCE was unrevised from the +3.8% prev estimate. The savings rate 

was unrevised at 6.8%. 

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

was unrevised at +3.0% and the closely watched core PCE price measure 

was revised up to +2.1% from +2.0%, but the y/y rate was still +1.9%, 

up from +1.7% in Q1. 

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

rev up to +5.4% vs +5.3% in prev estimate, while sales to domestic 

purchasers were rev to +4.0% vs +3.9% prev.