- Analytics
- News and Tools
- Market News
- US: Real GDP contracts by 0.6% in Q2 as expected
US: Real GDP contracts by 0.6% in Q2 as expected
- Real GDP in the US declined by 0.6% in the second quarter.
- US Dollar Index stays in positive territory above 113.00.
The US economy contracted at an annualized rate of 0.6% in the second quarter, the US Bureau of Economic Analysis' (BEA) third and final estimate showed on Thursday. This reading came in line with the market expectation and the previous estimate.
"In the second estimate, the decrease in real GDP was also 0.6%," the BEA noted in its publication. "The update primarily reflected an upward revision to consumer spending that was offset by a downward revision to exports. Imports, which are a subtraction in the calculation of GDP, were revised down."
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen gaining 0.4% on the day at 113.15.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
