Second-quarter GDP revised higher; corporate profits surged
Second-quarter real GDP growth was upwardly revised to 4.2% from an initially-reported 4.1% gain. This is a strong GDP report from the perspective of the drivers of growth. Corporate profit growth was robust and margins (profits in relation to nonfinancial corporate GDP) rose for the third straight quarter. With profit margins expanding again and investment spending accelerating, the outlook for the second half of the year is a solid one but accompanied by rising inflation pressures (the 2.4% increase in GDP prices over the last year is the fastest since end 2007).
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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