Is US's latest Real GDP revision good or bad?

Real gross domestic product (GDP) is a measure of the value of all goods and services produced in the United States in a given year, adjusted for inflation. It is the most widely used measure of the size and health of the US economy.

Real GDP is calculated by dividing nominal GDP by the GDP deflator. Nominal GDP is the value of all goods and services produced in the United States in a given year, measured in current prices. The GDP deflator is a measure of the change in prices of goods and services produced in the United States over time.

By dividing nominal GDP by the GDP deflator, real GDP removes the effects of inflation from nominal GDP. This allows us to compare real GDP over time and see how the economy is truly growing.

The US economic growth was revised lower but still is on a solid pace for Q2.

It might be still at a pace that does not sit well with the Feds' liking.

This could likely signal another interest rate hike in the next Fed meeting.

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