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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.
US DATA
- Real GDP was softer than expected in the second Q2 release, revised down to 2.06% annualized (cons 2.4) after 2.41% in the first release, following 2.00% for Q1, and showing no sign of stronger momentum behind the surging Atlanta Fed GDPNow estimates for Q3.
- Personal consumption was revised higher by marginally less than expected to 1.67% (cons 1.8) from 1.64%.
- The main contributions to downward revisions instead came from changes in inventories (-0.23pps), non-residential investment (-0.19pps) and net exports (-0.1pps) rather than one category in isolation.
- Away from revisions, final sales to domestic purchasers dominate the overall contribution at 2.4pps, whilst changes in inventories and net exports see small drags on the quarter.
- Separately, first details for Gross Domestic Income (GDI) show a tepid 0.49% annualized in Q2 after two quarters averaging -2.6% annualized. It leaves an average for GDP/GDI growth at just 1.3% annualized albeit an acceleration from 0.1% in Q1 and -0.4% in Q4.
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.
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