US: Q2 GDP likely to advance 2.0% - TDS

Analysts at TD Securities are expecting the US GDP to advance a near-trend 2.0% q/q saar in Q2, down from a strong 3.1% print in Q1.

Key Quotes

“Unlike the prior quarter, we expect consumer spending to be a key engine of growth, rebounding to about 4% after a wobbly start to the year. Business investment, however, continued to slow due to heightened uncertainty while inventories and net exports were likely a drag on growth.”