CICC pointed out that US GDP grew 1.5% month-on-month in the second quarter. Although lower than market expectations, the data was not weak. Imports, inventories, and government spending have dragged down GDP, while final private domestic sales, which reflect domestic demand, grew 3.9% month-on-month, the fastest since the beginning of 2023, indicating that the economy is still resilient. Consumption has clearly picked up, AI-driven corporate investment continues to grow at a high rate, housing investment has also begun to improve, and the economic growth momentum is gradually shifting from fiscal stimulus to the private sector.

CICC pointed out that US GDP grew 1.5% month-on-month in the second quarter. Although lower than market expectations, the data was not weak. Imports, inventories, and government spending have dragged down GDP, while final private domestic sales, which reflect domestic demand, grew 3.9% month-on-month, the fastest since the beginning of 2023, indicating that the economy is still resilient. Consumption has clearly picked up, AI-driven corporate investment continues to grow at a high rate, housing investment has also begun to improve, and the economic growth momentum is gradually shifting from fiscal stimulus to the private sector.