US: Q2 GDP and core PCE inflation in focus – TD Securities

In view of analysts at TD Securities, the final release of Q2 GDP data of US is expected to bring no major surprises, with the market expecting no changes to the second update that stood at 2.0% q/q saar.

Key Quotes

“Core PCE inflation is expected to have remained unchanged in Q2 at 1.7% q/q.”

“Separately, the Kansas City Fed's manufacturing survey will add the latest piece to the puzzle for activities in the sector, with the consensus looking for a minor uptick to -4 from -6 before. Lastly, pending homes sales are expected to rebound on a monthly basis at 1.0% for August, up from -2.5% before.”