{"id":194041,"date":"2023-07-27T09:45:00","date_gmt":"2023-07-27T13:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=194041"},"modified":"2023-07-27T09:49:13","modified_gmt":"2023-07-27T13:49:13","slug":"us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/","title":{"rendered":"US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-zinger-key-points\">ZINGER KEY POINTS<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The U.S. economy grew at a 2.4% annualized rate in the second quarter of 2023, beating expectations of 1.8% growth.<\/li>\n\n\n\n<li>The labor market continued to show signs of strength last week, as initial unemployment claims fell more than anticipated.<\/li>\n<\/ul>\n\n\n\n<p>The American economy expanded at an annualized rate of 2.4% in the second quarter of 2023, according to the advance estimates released Thursday by the&nbsp;<a href=\"https:\/\/www.benzinga.com\/calendars\/economic\" target=\"_blank\" rel=\"noreferrer noopener\">U.S. Bureau of Economic Analysis.<\/a><\/p>\n\n\n\n<p>The figure marked sequential growth from the previous quarter\u2019s GDP reading of 2% and sharply outpaced economist expectations of 1.8%, signaling that the pace of economic growth gained further strength.<\/p>\n\n\n\n<p>Fed Chair&nbsp;<strong>Jerome Powell<\/strong>&nbsp;warned during the&nbsp;<a href=\"https:\/\/www.benzinga.com\/economics\/macro-economic-events\/23\/07\/33401716\/powell-keeps-interest-rate-hikes-on-the-table-curbs-market-excitement-tech-falls-\" target=\"_blank\" rel=\"noreferrer noopener\">FOMC press conference<\/a>&nbsp;on Wednesday that the economy might undergo a period of below-trend growth along with an easing in labor market conditions, but it\u2019s worth noting the Fed\u2019s staff no longer forecasts a recession.&nbsp;<\/p>\n\n\n\n<p>Investors revised the probability of a rate hike in September slightly higher (from 20% to 22%) and assigned a 36% probability of a rate hike by November, up from 30% prior to the GDP reading.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key Drivers Of Q2 GDP Growth:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In comparison to the first quarter, the acceleration in second-quarter GDP was primarily driven by an increase in private inventory investment (advancing at a 4.9% annualized pace in the second quarter from a negative 0.4% in the first) and a rise in nonresidential fixed investment (up from 0.6% Q1 to 7.7% in Q2).<\/li>\n\n\n\n<li>This gain, however, was countered in part by a drop in exports (down from 7.8% Q1 to a negative 10.8% in Q2) and slower growth in consumer spending (down from 4.2% to 1.6% in Q2), federal government spending (down from 6% to 0.9% in Q2), and state and local government spending (down from 4.4% to 3.6% in Q2).<\/li>\n\n\n\n<li>Imports fell last quarter (from 2% to a negative 7.8%), which contributed positively to the GDP.<\/li>\n\n\n\n<li>The GDP price index grew at 2.2% annualized rate in Q2, down from 4.1% in Q1 and below estimates of 1.8%, indicating a softening in the price pressures.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">More Economic Data Released Thursday Morning<\/h2>\n\n\n\n<p>In addition to the GDP data, the U.S. Census Bureau reported a solid 4.7% monthly increase in durable goods orders for June, marking a substantial increase from the 1.8% growth recorded in May and beating the estimated 1% increase.<\/p>\n\n\n\n<p>At the same time, the&nbsp;<strong>Department of Labor<\/strong>&nbsp;published its weekly unemployment claims report, revealing the number of Americans filing for jobless claims fell by 7,000 to reach 221,000 for the week ending July 22nd, declining more than the expected 235,000.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted July 27, 2023 &#8211; <a href=\"https:\/\/www.benzinga.com\/economics\/macro-economic-events\/23\/07\/33419003\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate\">US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. economy grew at a 2.4% annualized rate in the second quarter of 2023, beating expectations of 1.8% growth.<\/p>\n","protected":false},"author":1128,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,6,8,9,26,3],"tags":[77,527,11020],"contributors-categories":[13584],"class_list":{"0":"post-194041","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-macro","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-text-articles","11":"category-traders-insight","12":"tag-fed","13":"tag-gdp","14":"tag-rate-hike","15":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike<\/title>\n<meta name=\"description\" content=\"The U.S. economy grew at a 2.4% annualized rate in the second quarter of 2023, beating expectations of 1.8% growth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/194041\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"The U.S. economy grew at a 2.4% annualized rate in the second quarter of 2023, beating expectations of 1.8% growth.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-27T13:45:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-27T13:49:13+00:00\" \/>\n<meta name=\"author\" content=\"Piero Cingari\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Piero Cingari\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Piero Cingari\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/2e1deb46bf9913df17d7a772edadc24b\"\n\t            },\n\t            \"headline\": \"US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike\",\n\t            \"datePublished\": \"2023-07-27T13:45:00+00:00\",\n\t            \"dateModified\": \"2023-07-27T13:49:13+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\\\/\"\n\t            },\n\t            \"wordCount\": 443,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"keywords\": [\n\t                \"Fed\",\n\t                \"gdp\",\n\t                \"rate hike\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\\\/\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\\\/\",\n\t            \"name\": \"US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"datePublished\": \"2023-07-27T13:45:00+00:00\",\n\t            \"dateModified\": \"2023-07-27T13:49:13+00:00\",\n\t            \"description\": \"The U.S. economy grew at a 2.4% annualized rate in the second quarter of 2023, beating expectations of 1.8% growth.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/2e1deb46bf9913df17d7a772edadc24b\",\n\t            \"name\": \"Piero Cingari\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/piero-cingari\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike","description":"The U.S. economy grew at a 2.4% annualized rate in the second quarter of 2023, beating expectations of 1.8% growth.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/194041\/","og_locale":"en_US","og_type":"article","og_title":"US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike | IBKR Campus US","og_description":"The U.S. economy grew at a 2.4% annualized rate in the second quarter of 2023, beating expectations of 1.8% growth.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/","og_site_name":"IBKR Campus US","article_published_time":"2023-07-27T13:45:00+00:00","article_modified_time":"2023-07-27T13:49:13+00:00","author":"Piero Cingari","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Piero Cingari","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/#article","isPartOf":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/"},"author":{"name":"Piero Cingari","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/2e1deb46bf9913df17d7a772edadc24b"},"headline":"US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike","datePublished":"2023-07-27T13:45:00+00:00","dateModified":"2023-07-27T13:49:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/"},"wordCount":443,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"keywords":["Fed","gdp","rate hike"],"articleSection":["Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/","url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/","name":"US GDP Expands At Booming 2.4% In Q2, Beating Estimates On Heels Of Latest Fed Rate Hike | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"datePublished":"2023-07-27T13:45:00+00:00","dateModified":"2023-07-27T13:49:13+00:00","description":"The U.S. economy grew at a 2.4% annualized rate in the second quarter of 2023, beating expectations of 1.8% growth.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-gdp-expands-at-booming-2-4-in-q2-beating-estimates-on-heels-of-latest-fed-rate-hike\/"]}]},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/2e1deb46bf9913df17d7a772edadc24b","name":"Piero Cingari","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/piero-cingari\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/194041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/1128"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=194041"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/194041\/revisions"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=194041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=194041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=194041"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=194041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}