Advance 2Q GDP , the broadest measure of national output, rose at an annualized rate of 1.9%, below the estimate of 2.3% but above 1Q’s 0.9%. Real GDP is up 1.8% versus last year.
The Chicago Purchasing Managers Index which is a measure of manufacturing in the Midwest rose from 49.6 in June to 50.8 in July, ahead of the forecast of 49.0. New orders improved, but employment remained sluggish. Prices paid rose from 85.5 to 90.7.
Details from Bloomberg...
