US: GDP Nuggets

The revised Q2 GDP data contain a number of interesting and important features that may have flown under investors' radar and, more broadly, offers a key window on the US economy. Here are our top-10 nuggets.

1) The second estimate of GDP contains the first estimate of real GDI; an alternative gauge of headline activity drawn from the income side of the national accounts rather than the expenditure side. There is considerable evidence that real GDI is a more reliable indicator than real GDP.

Real…