Q3 GDP Forecasts: 1.6% to 1.9%

From Merrill Lynch: The collapse in construction spending and soft inventories cut 0.3pp from 2Q GDP tracking, bringing our estimate down to 1.8% qoq saar from the advance 2.1% print. … we revise up our 3 Q GDP forecast to a trend-like 1.7% qoq saar from 1.2%. [Aug 2 estimate] emphasis added From Goldman Sachs: We lowered our Q3 GDP tracking estimate by one tenth to +1.8% (qoq ar) . [Aug 2 estimate] From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 1.6% for 2019:Q3 . [Aug 2 estimate]. And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth......(read more)

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