Gross Domestic Product, Second Quarter 2021 (Advance Estimate)

Gross Domestic Product, Second Quarter 2021 (Advance Estimate)

From bea.gov

Real gross domestic product (GDP) increased at an annual rate of 6.5 percent in the second quarter of 2021 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 6.3 percent (revised). The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see "Source Data for the Advance Estimate" on page 3). The "second" estimate for the second quarter, based on more complete data, will be released on August 26, 2021.The increase in real GDP in the second quarter reflected ... (full story)

Added at 7:34am

U.S. Q2 GDP rises at 6.5% vs. 8.4% estimate

From cnbc.com

The U.S. economy accelerated at a strong pace in the second quarter in a sign that the U.S. has escaped the shackles of the Covid-19 pandemic, the Commerce Department reported Thursday. Gross domestic product, a measure of all goods and services produced during the April-to-June period, accelerated TK% on an annualized basis. However, the gain was considerably less than the 8.4% Dow Jones estimate. The gain also was a yardstick for how far the economy has come from the shutdowns imposed during the early days of the pandemic, when government across the country halted large swaths of economic activity to combat the ... (full story)

Added at 7:38am

2 US data "misses" will amplify discussions on the extent to which supply-side issues--labor and beyond--are holding back economic growth and continued sharp labor market improvement:
GDP at 6.5% versus an expected 8.4%; and
Weekly initial jobless claims at 419,000 vs 385,000
— Mohamed A. El-Erian (@elerianm) July 29, 2021

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fxsport

Jul 29, 2021 7:56am

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Quoting Deevog

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Economy going more bad

Ignored

Please....

Attached Image

fxsport

Jul 29, 2021 8:50am

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Quoting Guest

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i think we should away from the market at this time.. becuz market will fluctuate..

Ignored

Really?

Volatility = PROFIT

kingleeny

Jul 29, 2021 7:41am

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Quoting Deevog

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Economy going more bad

Ignored

6.4% for the biggest economy in the world is not bad at all. but who the heck thought that it was going to be above 8%??? as if they wanted to appear like they wanted to miss.

Blessed-man

Jul 29, 2021 7:38am

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The estimates seem given with a known intention.

6.5% Q/Q is huge, how do we expect a further 8.5% on a previous growth rate of 6.4%.

What I mean is a 5.0% estimate would have made USD rally.

Working towards a target

foto

Jul 29, 2021 7:57am

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"Disposable personal income decreased $1.42 trillion or 26.1 percent, in the second quarter, in contrast to an increase pf $2.27 trillion , or 63.7 percent (revised), in the first quarter. Real disposable personal income decreased 30.6 percent, in contrast to an increase of 57.6 percent."

These are striking numbers and whipsawing consumers who did spend Stimulus money but now do not have that same spending power on their own.

It is going to be all about jobs going forward as Federal Government is not a bottomless piggy bank without destroying USD, which they are not going to do as that then becomes a National Security issue.

It will be cash or credit by the consumer for the next two quarters and that means sluggish stagnant growth coupled with all that unwinding of price hikes induced by stimulus money.
A Royal mess is here and now.

fxsport

Jul 29, 2021 7:59am

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Quoting foto

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"Disposable personal income decreased $1.42 trillion or 26.1 percent, in the second quarter, in contrast to an increase pf $2.27 trillion , or 63.7 percent (revised), in the first quarter. Real disposable personal income decreased 30.6 percent, in contrast to an increase of 57.6 percent." These are striking numbers and whipsawing consumers who did spend Stimulus money but now do not have that same spending power on their own. It is going to be all about jobs going forward as Federal Government is not a bottomless piggy bank without destroying...

Ignored

I'm in total agreement with your analysis

The only difference is that I've dissociated my personal feelings from making $ off this situation. So while it sucks for some I'm harvesting seeds that I planted earlier.

BaliBoyz80

Jul 29, 2021 7:41am

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i think this good data, rise from last data

Bakker

Jul 29, 2021 7:57am

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I don't think the estimate is done on purpose, the Bureau of Economic Analysis' good name will be on the altar.

fxsport

Jul 29, 2021 7:57am

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Quoting Prof.Trader

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Why? There are so many Bad News on USD?

Ignored

Because the smart money wants to suck all the retail buyers into shorting EU so that when they buy it causes a short squeeze as the price shoots to 1.1950

Deevog

Jul 29, 2021 7:37am

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Economy going more bad

Xautrucho

Jul 29, 2021 11:06am

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The dollar is potent for just a tad bit longer in my opinion, therefore I'll short some GOLD.

foto

Jul 29, 2021 8:08am

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Quoting fxsport

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{quote} I'm in total agreement with your analysis The only difference is that I've dissociated my personal feelings from making $ off this situation. So while it sucks for some I'm harvesting seeds that I planted earlier.

Ignored

I used to be reluctant to selling USD but no longer. Am cured of any moral righteousness by all that has occurred since 2008. \
Will be staying short USD against Turd currencies such as Rand since Turds look better then the Government or Fed reserve policies impact upon USD.

It is all contrived and nothing Organic and real about any of this.

add: Am not able to offer a shred of evidence but I think Fedlings are propping up Rand. Simply goes with the flow of all which has occurred.