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Friday, July 07, 2023

Q2 GDP Tracking: Around 2%

by Calculated Risk on 7/07/2023 05:12:00 PM

From BofA:

Overall, data since our last weekly publication moved down our 2Q GDP tracking estimate from 1.5% q/q saar to 1.4%. [July 7th estimate]
emphasis added
From Goldman:
The details of the trade balance report were slightly softer than our previous assumptions, and we lowered our Q2 GDP tracking estimate by one tenth to +2.2% (qoq ar). [July 6th estimate]
And from the Altanta Fed: GDPNow
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2023 is 2.1 percent on July 6, up from 1.9 percent on July 3. [July 6th estimate]