According to the second estimate, US GDP grew 2.0% annualized in Q2, unrevised from first estimate, down from Q1’s 3.1%. The deceleration in real GDP in the Q2 primarily reflected downturns in inventory investment, exports, and nonresidential fixed investment. These downturns were partly offset by accelerations in PCE and federal government spending.
The PCE price index increased 2.3%, compared with Q1’s 0.4%. Excluding food and energy prices, the PCE price index increased 1.7%, Q1’s 1.1%.
