USA According to the Bureau of Economic Analysis, real GDP expanded 2.4% annualized in the second quarter, more than the median economist forecast calling for a +1.8% print. YoY, economic output rose 2.6%. Domestic demand continued to grow at a healthy clip in the three months to June, supported by household consumption (+1.6% QoQ annualized), as [...]
USA Nonfarm payrolls rose 209K in June, less than the median economist forecast calling for a +230K print. This negative surprise was compounded by a -110K cumulative revision to the previous months’ data. Employment in the goods sector advanced 29K as gains in construction (+23K) and manufacturing (+7K) were only partially offset by a 1K decline [...]
USA Nominal personal income increased 0.3% in May, a bit more than the median economist forecast calling for a 0.2% gain. Amid a labour market that remains healthy, the wage/salary component of income progressed 0.3%, while income derived from government transfers advanced 0.3%. Personal current taxes, for their part, rose 0.2%. All this translated into a [...]
