Market participants will get a first look at U.S. economic growth in the second quarter – and investors are expecting to see a slowdown.
Here are the main numbers economists are anticipating from Friday’s gross domestic product report from the Bureau of Economic Analysis, based on Bloomberg-compiled estimates:
- Gross domestic product (GDP): 1.8% vs. 3.1% in Q1
- Personal consumption: 4.0% vs. 0.9% in Q1
- Core PCE QoQ: 2.0% vs. 1.2% in Q1
Friday’s GDP report, released at 8:30 a.m. ET, will also include annual revisions to the data spanning back to 2014.
Consensus economists are looking for economic activity in the second quarter to have decelerated both over last quarter and last year, as ongoing geopolitical tensions took a bite out of trade-related data, and as business investment softened during the period.
If realized, a 1.8% GDP growth rate would mark the slowest pace since early 2017.