Real Inflation has to be around 2-3%; GDP isn’t even keeping up.
- Q2 GDP Slashed To 1.3% (thebusypost.wordpress.com)
The third reading on Q2 GDP just came out and the report was ugly.
“The “third” estimate of the second-quarter percent change in real GDP is 0.4 percentage point, or $16.0 billion, less than the “second” estimate issued last month, primarily reflecting downward revisions to private inventory investment, to personal consumption expenditures, and to exports,” wrote the .
The personal consumption component was revised down to 1.5 percent. Economists were expecting it to be unchanged at 1.7 percent.
Real gross domestic product – the output of goods and services produced by labor and property located in the United States – increased at…
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