Q2 Gross Domestic Product – GDP, is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific timeframe.

The Q2 GDP report indicated that the US economy grew by 2.8%, but 0.82% of this growth was attributed to “Inventory Build.”

When we mention Inventory Build, it means there is now an excess of inventory, which is a crucial factor to consider. Additionally, Durable Goods Orders dropped by 6.6% in June, significantly weaker than the estimated 0.3%.

As a side note, the primary reason for this decline was a reduction in aircraft orders, or the lack thereof.

Initial Jobless Claims as well as Continuing Claims fell slightly but still remain around the highest levels in three years.

We continue to see rate improvement, though slight, it is still headed in the right direction. The Federal Reserve have an option to lower the FED rate next week but lets not get our hopes up yet.