MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: China CFETS Yuan Index Down 0.05% In Week of Jul 19

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

MNI: PBOC Conducts CNY58.2 Bln Via OMO Mon; 7day Repo Rate Cut

MNI BRIEF: PBOC Cuts 7-Day Repo Rate By 10bp

CBRT Data Watch

NBH Data Watch

Pay concerns push back easing expectations; curve flattens

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Real GDP Revisions Stronger Than Expected, Core PCE Prices Little Changed

US DATA
  • Real GDP growth was revised up by more than expected in the 2nd Q1 release, up from 1.06% to 1.27% annualized (cons 1.1%).
  • Personal consumption saw a small upward revision from 3.70% to 3.76%, still the strongest since 2Q21 and so solid but no real change from the initial Q1 release.
  • More notable upside revisions came from other domestic demand (non-resi investment and government) plus a sizeable boost in changes in inventories (albeit still dragging -2.1pp annualized on the quarter), offset by the previous boost from net trade being revised away (latest contribution exactly 0.00pps)
  • Looking at underlying trends, final sales to private domestic purchasers were revised up to 2.85% annualized for also the strongest since 2Q21, similar to personal consumption.
  • On prices, the GDP price index was revised up from 4.0% to 4.2% although the core PCE deflator saw a much smaller increase from 4.94 to 4.96%.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.