US Q2 GDP (second reading) +1.1% vs +1.1% expected

• The initial estimate was +1.2%
• Personal consumption 4.4% vs +4.2% exp
• Core PCE q/q +1.8% vs +1.7% exp
  GDP price index +2.3% vs +2.2% exp
• Corporate profits -2.4% (unchanged from first estimate)
• Durables spending +9.9% vs +8.4% first estimate
• Business investment -0.9% vs -2.2% first estimate
• Business investment in IP/software +8.6% vs +3.5% first estimate
• Home investment -7.7% vs -6.1% first estimate
• GDP ex motor vehicles +1.0% vs +1.2% first estimate