Macro wrap: Household demand weighs on Q2 economic growth
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Exec sum
Real GDP grew 4.7% y/y in Q2, the slowest growth rate since Q1 2023. On a seasonally adjusted q/q basis, GDP grew 0.7%, less than half the pace of the 1.5% q/q growth in Q1.
Nominal GDP – which incorporates price effects – only grew 3.97% ...