Q2 GDP thoughts

RIGDPq22009

This metric will likely stay at a low level for quite some time…due to the massive oversupply now of existing homes.

NonRIGDPQ22009

This metric will continue to cliff dive…again due to massive oversupply of completed structures.

InvestmentContributionsQ2

RI may revert to zero here…just because activity will stay at a low level.

Regarding trade, the BEA stated that “Real exports of goods and services decreased 7.0 percent in the second quarter…Real imports of goods and services decreased 15.1 percent.”  That means that exports contributed positive change to GDP.

Source of charts: CR

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