How can this be Part 2? GDP revised for second quarter.
Even with the continued good news on the economy we still have folks who just tell one lie after another. Look at these numbers.
Consumer spending growth was revised up to +2.5% in Q2. The first estimate had pegged consumer spending growth at a worrisomely anemic 1.4%, the second estimate at 1.6%.
Private fixed investment was revised to a growth rate of 4.4%, from the dreadfully anemic 0.4% in the first estimate.
The strong Q2 growth came after the explosion of imports on tariff frontrunning had knocked Q1 GDP growth into the negative (-0.6%).
The increase in real GDP in the second quarter primarily reflected a decrease in imports, which are a subtraction in the calculation of GDP, and an increase in consumer spending.
