US Q2 GDP Revised Up 1.5% Quarter-on-Quarter, Unchanged from Initial Estimate
Macro
The U.S. Commerce Department released the revised real GDP for the April-June quarter on the 26th, showing a seasonally adjusted annualized growth of 1.5% quarter-on-quarter, unchanged from the preliminary estimate. This indicates that the U.S. economy remains resilient. Personal consumption, which accounts for 70% of GDP, was revised upward to 3.4% growth (from 3.2% in the preliminary estimate), and equipment investment, driven by the artificial intelligence (AI) boom, also remained robust at 8.5% growth (from 8.4%). However, imports were significantly revised upward to 12.5% growth (from 11.5%), offsetting the positive effects of higher consumption. Government consumption expenditure was revised down to a 1.0% decline (from 0.8% decline).
