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Analysts at Deutsche Bank point out that in the US, the third revision of Q2 GDP was confirmed at +4.2% qoq saar while core PCE was revised up a tenth to +2.1% qoq saar.

Key Quotes

“The durable and capital goods orders data was a bit more volatile however, and the Atlanta Fed GDP nowcast fell 0.6pp to 3.8%, as net exports look likely to drag a bit more this quarter and inventories will probably add less than previously expected to growth.”