Final Q2 GDP: -0.7% vs. consensus of -1.2% consensus and preliminary reading of -1%. The much...

|By:, SA News Editor
Final Q2 GDP: -0.7% vs. consensus of -1.2% consensus and preliminary reading of -1%. The much smaller decrease than in Q1 (-5.5%) reflects much smaller decreases in nonresidential fixed investment and in exports, an upturn in federal government spending, an upturn in state and local government spending, and a smaller decrease in residential fixed investment.