US: Q2 GDP growth to accelerate to an annualized 2.5% q/q - TDS

Sandeep Kanihama FXStreet Contributor

The analysis team at TD expects US Q2 GDP growth to accelerate to an annualized 2.5% q/q, slightly below the market consensus for a 2.6% print.

Key Quotes

“This reflects a strong pickup in consumer spending and broadening non-residential business investment growth, though residential investment and net exports should exert a small drag. The Q2 Employment Cost Index will be released simultaneously and both TD and the market consensus expect a 0.6% q/q gain. Wages and salaries are expected to outpace benefit payments, which is positive for markets, though wage inflation should slip to 2.2% from 2.4% on a year-ago basis due to unfavourable base effects.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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