Fiper | Final GDP

Gross domestic product is the broadest measure of economic activity and a primary indicator of the health of the economy
The annual percentage change (4X quarterly change) in GDP shows and indicates economic growth as a whole
The US economy grew at an annual rate of 2.1% in the second quarter of 2023, compared to the initial figure of 2.4% and the first quarter expansion of 2.0%. Downward revisions in both private inventory investment and nonresidential fixed investment were partially offset by an upward revision in state and local government spending. Growth rates declined for both consumer spending (1.7% vs. 4.2% in the first quarter) and government consumption (3.3% vs. 5.0%), while non-residential fixed investment saw the largest increase in almost a year (6.1% vs. 0.6%). Meanwhile, exports saw the biggest decline since the COVID-19 outbreak in the second quarter of 2020 (-10.6% vs. 7.8% in the first quarter), and residential fixed investment fell for the ninth time in a row (-3.6% vs. -4.0%). In addition, investment in private inventory had a negative contribution to GDP

Expectations for today's statement and how it will affect the currency

Expectations for today's reading are 2.2%.
A reading higher than expected indicates growth in the economy and has a positive impact on the US dollar, while a reading lower than expected indicates a decline in economic growth and has a negative impact on the US dollar.