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 1230GMT.
Key Quotes:
“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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