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Data from U.S. Bureau of Economic Analysis. Forecasts by Sigmanomics Forecast Engine.
United StatesUS GDP Growth Rate QoQ Adv climbed to 2.8% in Q2 2024
U.S. Bureau of Economic AnalysisQuarterlyReleased July 2024
US GDP Growth Rate QoQ Adv climbed to 2.8% in Q2 2024, released July 2024, up 1.4% from March's 1.4% reading. The print exceeded the 2.0% consensus by 0.8%. The print is running well above the 12-month average of 2.66%.
Latest Release
2.8
Actual
2
Consensus
1.4
Previous
Median Absolute Error
±0.85 percentage points
across last 12 releases
Last Call
Jul 2024
Predicted: 2
Actual: 2.8
Error: -0.8
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.50 | INDEX | Moves with | → View |
| EUR/USD | ▼ Inverse | −0.45 | FOREX | Moves against | → View |
| USD/JPY | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| XAU/USD | ▼ Inverse | −0.35 | COMMODITIES | Moves against | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
GDP Growth Rate QoQ Adv (United States) was reported at 2.8% in July 2024. This beat the market consensus of 2% by 0.8%. The reading rose from the previous value of 1.4%. This is classified as a high-impact indicator released on a quarterly basis.
WHY IT MATTERS
The trailing three releases averaged 2.57%, down from the prior three at 2.8%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with S&P 500 (Bullish Stocks). A secondary relationship exists with EUR/USD, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 0.85%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include MBA 30-Year Mortgage Rate (Sep 16) and Retail Sales MoM (Sep 16).
Auto-generated from current model state · Refreshes on each release · Last update July 2024.
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GDP Growth Rate QoQ Adv - US
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About GDP Growth Rate QoQ Adv — United States
DEFINITION
The GDP Growth Rate QoQ Adv is a key economic indicator that measures the quarterly change in a country's gross domestic product (GDP). It provides valuable insights into the overall health and performance of an economy, as well as its short-term growth trajectory. This indicator is closely monitored by investors, policymakers, and businesses to make informed decisions and assess the current state of the economy. A positive GDP Growth Rate QoQ Adv indicates a growing economy, while a negative rate suggests a decline.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus typically move rates and currencies on release. Released quarterly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2024): actual 2.8 %, consensus 2 %. Prior reading (Jan 2024): 1.6 %. Before that (Oct 2023): 3.3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish Stocks, r=0.50) — a useful reference for index-focused traders.
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Economic Calendar - US Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:30 | US | NY Empire State Manufacturing Index | 7.6 | 20.6 | 14.75 | 11.18 | High |
| 20:30 | US | API Crude Oil Stock Change | 7.14 | -0.3 | -1.8 | 2.67 | Medium |
| 21:00 | US | API Crude Oil Stock Change | 7.14 | -0.3 | -1.8 | 2.67 | Medium |
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | US | Retail Sales MoM | -0.6 | 0.8 | 1.00 | High | |
| 12:30 | US | Retail Sales Ex Autos MoM | -0.3 | 0.5 | 0.65 | High | |
| 12:30 | US | Import Prices YoY | 5.9 | 6.4 | 6.40 | Low | |
| 12:30 | US | Retail Sales Ex Gas/Autos MoM | -0.2 | 0.2 | 0.20 | High | |
| 12:30 | US | Retail Sales YoY | 5 | 4.7 | 6.15 | High | |
| 12:30 | US | Export Prices MoM | -1.3 | 0.5 | 0.50 | Medium | |
| 12:30 | US | Import Prices MoM | -0.4 | 0.4 | 0.40 | Medium | |
| 12:30 | US | Export Prices YoY | 8.2 | 8.5 | 8.50 | Low | |
| 14:00 | US | Business Inventories MoM | 0 | 0.3 | 0.30 | Medium | |
| 14:00 | US | NAHB Housing Market Index | 35 | 34 | 34.00 | Medium | |
| 14:00 | US | Retail Inventories Ex Autos MoM | 0.7 | -0.5 | 0.7 | 0.70 | Low |
| 14:30 | US | EIA Crude Oil Stocks Change | -0.391 | -1.6 | -3.43 | Medium | |
| 14:30 | US | EIA Gasoline Stocks Change | 1.269 | -1 | -0.95 | Medium | |
| 14:30 | US | EIA Distillate Stocks Change | 2.087 | 0.1 | 0.83 | Low | |
| 18:00 | US | Fed Interest Rate Decision | 3.75 | 4 | 4.00 | High | |
| 20:00 | US | Net Long-Term TIC Flows | 172.7 | 146.3 | 160.35 | Medium | |