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Data from U.S. Bureau of Economic Analysis. Forecasts by Sigmanomics Forecast Engine.
United StatesUS GDP Price Index QoQ Adv fell to 2.3% in Q2 2024
U.S. Bureau of Economic AnalysisQuarterlyReleased July 2024
US GDP Price Index QoQ Adv fell to 2.3% in Q2 2024, released July 2024, down 0.8% from March's 3.1% reading. The reading missed the 2.6% consensus by 0.3%. The print is running well below the 12-month average of 4.8%.
Latest Release
2.3
Actual
2.6
Consensus
3.1
Previous
Median Absolute Error
±0.75 percentage points
across last 12 releases
Last Call
Jul 2024
Predicted: 2.6
Actual: 2.3
Error: +0.3
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.50 | INDEX | Bullish Stocks | → View |
| EUR/USD | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| USD/JPY | ▲ Direct | +0.40 | FOREX | Bullish USD | → View |
| XAU/USD | ▼ Inverse | −0.35 | COMMODITIES | Bearish Gold | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
GDP Price Index QoQ Adv (United States) was reported at 2.3% in July 2024. This missed the market consensus of 2.6% by 0.3%. The reading fell from the previous value of 3.1%. This is classified as a medium-impact indicator released on a quarterly basis.
WHY IT MATTERS
The trailing three releases averaged 2.3%, down from the prior three at 3.23%.
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 0.75%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include MBA 30-Year Mortgage Rate (Jun 17) and Retail Sales MoM (Jun 17).
Auto-generated from current model state · Refreshes on each release · Last update July 2024.
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GDP Price Index QoQ Adv - US
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About GDP Price Index QoQ Adv — United States
DEFINITION
The GDP Price Index QoQ Adv is a key economic indicator that measures the change in the overall prices of goods and services produced in a country over a specific quarter. It provides valuable insights into the inflationary pressures within an economy and is used by policymakers and investors to assess the health of a nation's economy. A positive change in the index indicates an increase in prices, while a negative change suggests a decrease. This indicator is an essential tool for making informed decisions in the financial world.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released quarterly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2024): actual 2.3 %, consensus 2.6 %. Prior reading (Jan 2024): 3.1 %. Before that (Oct 2023): 1.5 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend 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.