factory inventories

July PCE, Trade Deficit, Construction, and Factory Inventories Point to 3rd Qtr GDP Growth Over 3%

In addition to the Employment Situation Summary for August from the Bureau of Labor Statistics, last week also saw the release of four July reports that give us the lion's share of that month's contribution to 3rd quarter GDP, and in some cases suggest revisions to 2nd quarter GDP.  This post reviews those four reports, with an eye to assessing their impact on GDP growth.

The Impact of April’s Income and Outlays, Trade Deficit, Construction Spending, and Factory Inventories on GDP

With the first Friday of the month, the Employment Situation Summary for May from the Bureau of Labor Statistics was obviously the most widely watched release of last week.  But the week also saw the release of four reports for April that give us the lion's share of that month's contribution to 2nd quarter GDP, and in some cases suggest revisions to 1st quarter GDP.