Q2 GDP revised to 2.2% as core PCE cools below expectations
As seen on the 24/7 Wall St. homepage on September 30, 2026.
Core PCE at 3.0%, missing expectations of 3.3%, is the number that moves rate odds, and the White House AI czar is amplifying it alongside a GDP revision. Growth holding up while inflation eases takes pressure off the Fed's next move.
Today’s economic numbers: — Q2 GDP revised up to 2.2% (was 1.5%). — Core PCE 3.0% vs 3.3% expected. — ADP private jobs +90k vs ~68k expected. Growth beat. Inflation cooled. Jobs better than expected. The Trump economy is strong.
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The upward revision to Q2 GDP, to 2.2%, is the kind of move that reframes how investors read the broader growth picture heading into the final quarter of the year.
Core PCE at 3.0%, missing expectations, is the number that carries the most weight for rate watchers. An inflation reading that misses expectations to the downside reduces pressure on the Fed and shifts the odds on its next move.
ADP private jobs came in better than expected alongside both of those figures, rounding out a release where growth accelerated, inflation softened, and hiring outpaced forecasts in the same report. That combination in a single data drop is uncommon enough to move market assumptions.
White House AI czar David Sacks amplified all three figures on X on September 30, framing them collectively as evidence of a strong economy. The post reached nearly 9,661 impressions, signaling the data is moving well beyond financial terminals.