Published: 2024-08-28T12:45:39.000Z
Preview: Due August 29 - U.S. Preliminary (Second) Estimate Q2 GDP - Marginally stronger still
Senior Economist , North America
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We expect the second (preliminary) estimate for Q2 GDP to be revised marginally up to 2.9% from an already strong first (advance) estimate of 2.8%.
The revision will be led by private sector construction spending, both residential and non-residential. We expect public sector construction to be revised marginally lower. We also expect a small upward revision to exports and a small downward revision to inventories.
We expect final sales (GDP less inventories) to be revised up to 2.1% from 2.0% but final sales to domestic buyers (GDP less inventories and net exports) to be unrevised at 2.7%.
We do not expect any revisions to the price indices, from 2.3% for GDP, 2.6% for overall PCE and 2.9% for core PCE.
