The revised estimate of U.S. GDP showed the economy grew at 1.6% annual pace in the second quarter. This is slightly better than expected market professionals (1,4% -1,5%), but still significantly lower than previous estimates of the growth of 2,4%. Moreover, in the first quarter rate was 3.7% and 5.0% in the fourth. Notice how the melting rate figures. H. Rubin in an interview said that in the third growth could further slow down to 1,1%. The second graph shows the dynamics of real GDP-linked prices. It shows that the economy is at a level in the second quarter of 2007. However, even in nominal terms, current 14570000000000. it is barely noticeable growth of the peak level of the third quarter of 2008.
At the same time, being better than expectations, the report sparked the growth of quotations on the stock markets, increasing consolidation pair of usd / jpy. Euro, as earlier in the week, noted the growth in the first few minutes, but then become apparent sale, do not release the eur / usd 1,27. Next week we expect all the same flight from risk, oppressive and indirectly to the euro, resumes, sending a couple of zone 1,25-1,26 by mid-week. The end of next week will be very rich in important news, and, apparently, will lead the market from the summer "light" trade regime.
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