25 July 2024 US Monitor Expect a slower H2 after almost respectable Q2 GDP growth
23rd Jul 2024 09:33USDaily Monitor
- We think GDP grew by 2.2% in Q2, but we expect a weaker second half as consumption softens.
- A 2.7% rise in the core PCE deflator should reassure the Fed that the 3.7% spike in Q1 was a blip.
- The further uptick in the S&P Global Composite PMI probably overstates the economy's strength.
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