US second estimate for Q2 GDP data due Wednesday - preview

Coming up at 1230GMT

Preview via Barclays:

• We look for real GDP growth to be unchanged at 2.6% q/q saar in the second estimate of Q2 17 GDP.
• Incoming data point to a one-tenth upward revision to consumption (to 2.9% from 2.8%) as well as relatively minor upward revisions to structures investment, inventory accumulation, and government spending. Offsetting these improvements are residential investment and equipment spending, each of which should receive modest downgrades relative to what was assumed by the BEA in the advance estimate.
• We look for the contribution of net trade to growth to be unchanged (at 0.2pp).

And, from HSBC:

• We look for Q2 GDP growth to be revised to 2.7%, up from 2.6%.
• We expect an upward revision for consumer spending, offset partly by a downward revision to residential construction.