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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The Atlanta Fed’s GDPNow ends Q2 tracking at 2.6% annualized ahead of tomorrow’s official release after 2.7% in the Jul 17 update.
- Tracking estimates have lifted in recent weeks after readings that had got as low as 1.5% in early July, leaving it again painting a stronger picture than the 2.0% per Bloomberg consensus.
- Latest mild revisions: gross private domestic investment trimmed from 8.9% to 7.7% mostly offset by a smaller net trade drag of -0.65pps instead of -0.75pps.
- Consumption is seen adding 1.5pp to GDP growth in Q2, accelerating from 1.0pp in Q1 having stepped down from a strong 2.16pp averaged in 2H23.
- Changes in inventories are still seen providing a large sequential boost on the quarter, shifting from -0.4pp in Q1 to an assumed +0.85pp, in a swing that can cloud domestic demand implications when looking at the headline GDP figure.
Source: Atlanta Fed
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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