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Real GDP: Solid Upward Revision To Core PCE In 2022

US DATA
  • The unrevised rounded core PCE print for Q2 at 3.7% annualized (3.66% after 3.69%) belied some notable upward revisions to past recent quarters, especially in 2022.
  • Q1 was revised up to 4.96% (initially 4.88%), whilst 2022 is now seen to have averaged 5.09% annualized from an initial 4.84% - see chart below.

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