New: Q2 Real GDP Up 2.8%

Ed Morrissey

This is a good report. These numbers are already adjusted for inflation ("real" designates inflation adjustment) so they measure real growth. For the unadjusted figures, look for "current-dollar" GDP (5.2%) and other measures. 

The only slightly sour note is a slight falloff on the rate of increase of real wages, but they are still increasing slightly faster than inflation. The personal savings rate declined slightly as well, but that's probably linked to the slight decline in the rate of wage growth. 

However, here's one big red flag: Real final sales of domestic product increased at 4.4%, which means some of this may be consumers burning through inventory.