More solid economic news hit the wire in the US today

More solid economic news hit the wire in the US today. Preliminary results for Q2 GDP surprised to the upside, with total growth revised upward from 4% to 4.2%. While retail consumption didn't change all that much, fixed business investment was revised substantially higher - always good news for the economy. Moreover, inventory levels dropped sharply, which is often a good indicator of higher spending coming in Q3. In the meantime, initial jobless claims beat expectations again. This week's figure came in at 298k, better than 300k expected. The four-week average also dropped below 300k. For the US economy the trend remains positive, and once again, the beat rolls on. (VIEW LINK) (VIEW LINK)