Overall GDP numbers "Much Better than Expected"
I was expecting GDP to be off a cliff after the massive selloff we had since April.
GDP for Q1 was revised upward from +2.7% to +3.7% and Q2 preliminary at +2.4% vs. +2.5%
Q2 Chain Deflator advanced +1.8% vs +1.1%
Q2 Employment Cost Index +0.5% vs +0.5%
All in all numbers look so much better than how the market has reacted since April with a bloody off the cliff type market move.