US Q2 2024 GDP update (Finalized).

The US has remained status quo on its final GDP estimate for Q2 2024.

Let's break it up and see what the changes are.

Q2 GDP (1st estimate) = 0.53 + 1.46 + 1.57  + (-0.72) = 2.84 (2.8)

Q2 GDP (2nd estimate) = 0.46 + 1.31 + 1.95 + (-0.77) = 2.95 (3)

Q2 GDP (Final estimate) = 0.52 + 1.47 + 1.9 + (-0.9) = 2.99 (3)

The US had revised up its government spending (0.52) and investment (1.47) slightly but revised down its consumption (1.9) and net export (-0.9) from its 2nd estimate.

These revisions don't bode well for US economic growth because local and oversea consumptions are in a decline.