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US Q2 GDP slows, but private demand stays strong
TD Securities said underlying private domestic final purchases accelerated to 3.9% q/q annualized, pointing to growth strength beyond AI-linked activity.
TD Securities economists Eli Nir and Oscar Munoz highlighted that US Q2 GDP growth slowed to 1.5% q/q annualized. They said the slowdown was accompanied by a pickup in the underlying demand measure, with private domestic final purchases accelerating to 3.9%.
In their view, AI-related activity remains a large share of the economy, but growth outside AI sectors was still strong. That broader momentum, they argued, suggests policy may not be highly restrictive.
The economists also tied the economic backdrop to shifting market expectations, noting that AI activity continues to influence the growth picture. Separately, FXStreet discussed how a firmer US dollar and risk sentiment can affect broader asset pricing, including gold.
FXStreet added that gold fell toward the $4,000 per troy ounce area as the US dollar regained momentum, while it said crypto markets paused near key technical levels for assets including bitcoin and ether.
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