Source: Bureau of Economic Analysis
US Gross Domestic Product increased at a 6.5% annual rate in the second quarter compared to 6.3% in the first quarter.
SPY is up + 0.40%, DXY is down -0.34%.
- The current-dollar GDP rose 13% annual rate of $684.4 billion in the second quarter to level at $22.72 trillion.
- The price index for gross domestic purchases rose 5.7% in the second quarter compared to 3.9 % in the first quarter.
- There was a decrease in current-dollar personal income by $1.32 trillion or 22% in the second quarter in contrast to a $2.33 trillion or 56.8% increase in the first quarter.
- Disposable personal income was down $1.42 trillion in the second quarter, an equivalent of 26.1% compared to a $2.27 trillion, or 63.7% increase in the first quarter.
- Personal outlays increased $680.8 billion, in contrast to an increase of $538 billion buoyed by the rise in service personal consumption expenditure.
- There was $1.97 trillion in personal savings in the second quarter, down from $4.07 trillion reported in the first quarter.