US Economic Growth Rate Slows in Q2

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Economic Update: U.S. GDP

The government’s advance report on the nation’s GDP during the second quarter of 2012 shows the economy’s growth rate slowed to +1.5% during the April-June period.

This was above Wall Street expectations and below the first quarter’s growth rate of +2.0% (which was revised higher from +1.9%). Wall Street’s expectations had been for this report to come in at 1.4%

For reference purposes:

• Q4 2011: +3.0%
  
• Q3: +1.8%
  
• Q2: +1.3%
  
• Q1: +0.4%
  
• Q4 2010: +3.1%
  
• Q3 +2.6%
  
• Q2: +1.7%
  
• Q1 2010: +3.7%.

On the inflation front, the Price Deflator came in at +1.6% which was in line with the expectations for +1.6% and below Q1’s rate of +2.2%.

Looking at consumption, Personal Consumption was reported at 1.5%, which was well below last quarter’s 2.4% rate.

Other stories on the US Economy to review:

• Pending Home Sales Down in June
  
• Durable Goods Up on Transportation Orders
  
• Markit's Flash Manufacturing PMI Weakest in 19 Months
  
• Philly Fed Down Again in July
  
• LEI Falls Again in June
  
• Existing Home Sales Fall in June
  
• Housing Starts Higher, Permits Lower in June
  
• Industrial Production Above, Capacity Utilization Below Expectations
  
• CPI Shows Inflation Flat in June
  
• Empire Manufacturing Improves in July
  
• Retail Sales Disappoint in June
  
• PPI Up in June
  
• Import/Export Prices Down in June
  
• NFIB Small Business Optimism Index Pulls Back Again
  
• Jobs Report Disappoints Again in June
  
• ISM Non-Manufacturing Index Disappoints in June
  
• ADP Employment Surprises to Upside
  
• Challenger Planned Job Cuts Best in Year
  
• Factory Orders BTE in May
  
• Construction Spending Above Consensus in May
  
• ISM Manufacturing Plunges in June
  
• Chicago PMI Headline Improves But...

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