When all you read is gloom, turn here for a much different perspective.

Sunday, August 29, 2010

Q2 GDP Reading Surprises Most

On Friday, the Commerce Department confirmed that Q2 GDP growth was 1.6%. Many of the details pointed to good news for the U.S. Economy. With inflation almost non-existent the report also shows that year over year the economy is up 3.0% Reading surprised almost all analysts to on the upside.

Many stock traders focused on the U.S. final sales number of the report. Real final sales to domestic purchasers was revised up to 4.3% from the initial estimate of 4.1%

So even though overall economic growth slowed from the first quarter's 3.7% pace, domestic demand was actually stronger-4.3% compared to 1.3% in the first quarter.

In summary, the latest GDP revisions report is quite supportive of continued recovery for the U.S. economy for the foreseeable future.

0 comment(s)... (click here to add yours):

Post a Comment

We want to hear from you, and you know you want to say something...

FREE Good News delivered to your Email Inbox (With Easy Unsubscribe at Any Time)

Enter your email address:

Delivered by FeedBurner

If you prefer RSS feed subscription...

If you prefer RSS feed subscription...
...Click This Icon For The RSS Feed