Expectations are falling fast for next week’s advanced Q2 GDP report.
Bloomberg has the consensus estimate at 1.4% but the latest survey from Dow Jones puts growth at just 1.2%.
The data won’t be released until Friday and there will be a chance to revise estimates after Thursday’s report on durable goods orders/shipments.
My initial impression is that the bar is being set very low, which could be a positive for risk trades.
