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Advance Q2 GDP Preview - 08:30 EDT/13:30....>

US DATA
US DATA: Advance Q2 GDP Preview - 08:30 EDT/13:30 BST
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- The advance report on Q2 GDP is expected to show a 1.8% gain for the headline
figure, based on both the Bloomberg consensus and MNI survey of analysts. Q1 GDP
was originally reported up 3.1%, but the data released today will include annual
revisions back to 2014 that could alter past readings through the Q1.
- Analysts expect that PCE growth was a larger contributor to GDP in Q2 than in
the previous quarter, but a smaller contribution from inventory investment and a
wider trade gap (both reversal from their Q1 performance) will work against the
uptick in PCE.
- Analysts will also want to pay attention to the core PCE price measure for the
quarter ahead of the monthly report due out on Tuesday. This series is subject
to annual revision as well.

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