Current: US GDP “only” +4.1%, prices are rising strongly!

US GDP (2nd quarter, 1st release) was as expected at +4.1% (forecast was +4.1%, but “whisper estimates” were significantly higher at +4.8%; previous quarter +2.0%).

The price index of GDP (GDP deflator) is +3.2% (forecast was +2.3%; previous quarter was +2.2%).

Real final consumption expenditure (2nd quarter) was +4.0% (previous quarter was +0.9%, now revised downwards to +0.5%)

Donald Trump broke tradition yesterday at an election campaign event in a US steel mill (sic!) and speculated about GDP as acting US president:

“Somebody actually predicted today 5.3. I don’t think that’s going to happen. If it has a 4 in front of it, we’re happy. If it has like a 3, but it’s a 3.8, 3.9, 3.7, we’re OK“. Und dann sein Verweis auf die „Fake News“: “These are unthinkable numbers. If I would have used these numbers during the campaign, the fake news back there would’ve said he’s exaggerating.”

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