Constance Hunter Statement on Q2 GDP

The following is a statement from Constance Hunter, KPMG U.S. Chief Economist, on the Q2 2021 GDP numbers released today:

"GDP grew by 6.5% (SAAR) in Q2, driven predominately by another surge in consumer spending. The reading was below consensus expectations for an 8.4% increase, due in large part to a drawdown in auto inventories. Residential construction appears to be cooling, but personal income excluding transfer payments breached its pre-pandemic level, suggesting that consumption will continue at a steady pace in the coming quarters."



Follow Constance on Twitter for more economic insights @ConstanceHunter. To speak with Constance, contact Matt Weiss. 

Media contact

Matt Weiss

Matt Weiss

Director, Industry Communications, KPMG US

+1 201-307-8138

 

 

Constance L  Hunter

Constance L Hunter

Principal and Chief Economist, KPMG LLP

+1 212-954-3396

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