Revised Q2 GDP Prints 1.7%, Higher Than Expected, But Prior Revised Significantly Lower

Tyler Durden's picture

The Q2 GDP printed at 1.7% compared to expectations of 1.0%, however this was entirely offset with the Q1 revision from 1.8% to 1.1%. Since the series is being entirely revised, it is safe to say that these are Apples to Oranges numbers.

 

Q1 revised to the worst miss in 27 months...


 

The market reaction to better ADP and better GDP (* after a dismal revision) is strongly Taper-on... except in stocks...

 

Since the entire series is being revised will we provide the breakdown momentarily.