U.S. GDP falls for a second quarter, down 0.9% in first estimate
- Q2 GDP (initial estimate)-0.9%vs. +0.5% consensus and -1.6% in Q1.
- Personal consumption expenditures:+1.0%vs. +1.3% consensus and 1.8% prior.
- PCE price index:+8.9%vs. +7.1% prior.
- Core PCE prices:+4.4%vs. +4.5% consensus and +5.2% prior.