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- US Q2 GDP: Risks skewed to the downside - BNZ
US Q2 GDP: Risks skewed to the downside - BNZ
Analysts at Bank of New Zealand (BNZ) offer a sneak peek at what to expect from Friday’s US Q2 Preliminary GDP report due on the cards at 12:30 GMT.
“Durable goods orders data in the US were stronger than expected, including a lift for the core measure. But, for today's data to come: While this was pleasing to see, advanced estimates on trade and inventories suggested that these components will act as a bigger-than-expected drag on Q2 GDP. Placing downside risk to the consensus annualized 1.8% estimate - already on track for the weakest quarterly growth in over two years.”
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