Growth of the U.S. economy in the second quarter was revised down as expected while consumer spending registered an unexpected increase, according to official data released on Friday.
The second estimate of second quarter growth domestic product showed growth of 1.1%, revised down as expected from the initial reading of a 1.2% rise.
Real consumer spending for the April to June period rose by 4.4%. It had been expected to be unrevised at 4.2%.
The GDP price index was revised up to an increase of 2.3%, from the prior reading of a 2.2% advance.
Economists weren’t expecting any change.
Corporate profits fell 2.4%, compared to the prior 2.2% advance.
Immediately after the report, EUR/USD was trading at 1.1289 from around 1.1292 ahead of the publication; GBP/USD was at 1.3205 from 1.3210 earlier; while USD/JPY was at 100.31 from 100.32 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was unchanged at 94.57.
Meanwhile, U.S. stock futures pointed to a flat to lower open, paring losses after the data. The Dow futures lost 12 points, or 0.07%, the S&P 500 futures fell 1 point, or 0.06%, while the Nasdaq 100 futures traded down 5 points, or 0.11%.
Elsewhere, in the commodities market, gold futures traded at $1,332.45 a troy ounce, compared to $1,331.25 ahead of the data, while crude oil traded at $47.33 a barrel from $47.27 earlier.