Q2 GDP Forecasts: Revised Down, under 10%

From BofA: The construction spending data sliced another 0.5pp from 2Q GDP tracking, leaving us at a still impressive 9.5% qoq saar . [July 2 estimate] emphasis added From Goldman Sachs: We left our Q2 GDP tracking estimate unchanged at +8.5% (qoq ar) . [July 2 estimate] From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 3.2% for 2021:Q2 and 3.9% for 2021:Q3. [July 2 estimate] And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2021 is 7.8 percent on July 2, down from 8.6 percent on……(read more)

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