Bloomberg thinks today’s reading will be an annualized 2.6%, up from last month’s revised take of 2.5% and the initial reading of 1.7% in July. I’m thinking it drops a bit because of month-ago revisions to second-quarter new home sales. We’ll see.
The report will be here at 8:30 a.m.
HERE IT IS (full HTML):
Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 2.5 percent in the second quarter of 2013 (that is, from the first quarter to the second quarter), according to the “third” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.1 percent.
A detailed look reveals little change from the last revision pretty much across the board. Government purchases went from subtracting 0.18 points to subtracting 0.07, which means the private sector’s overall contribution dropped.
Overall, I think there’s a little padding in the overall growth number, but it’s going to stay where it is until the middle of next year.