The monthly summary continues to improve, although PCE ex food and energy inflation numbers continue to be a concern.
A lot of hoopla about the overall, but that PCE ex-F&E edged upward.
Now for the revisions in previous months...
Personal income, etc. is shown here.
The GDP 3rd estimate can be found here.
Note the uptick in the trade deficit. A part of that may be the front loading of imports in preparation of possible East and Gulf Coast port strike, possible on 10-1. Both sides seem to be playing chicken at this point. Each day of a strike would in theory... hamper $4.5 in imports and $2.8B in exports.
That front loading should likely have a bit of drag on 3rd Quarter GDP, but certainly not like the 1st half of 2022... which was almost entirely responsible for those back to back negative quarters.
By end of October, we will have the first glimpse of 3Q GDP and whether there was a strike.
No comments:
Post a Comment