Here comes GDP ...

The Department of Commerce will release its second estimate of US gross domestic product during the second quarter at 8:30 a.m. ET.

Economists forecast that the data would be revised downward a blip, showing that the US economy grew at an annualized rate of 1.1%, down from the 1.2% print earlier reported, according to Bloomberg.

Personal consumption is expected to be unchanged at 4.2%, and core personal consumption expenditures, a measure of inflation, at 1.7%.

The preliminary release of Q2 GDP showed that the economy was bogged down by weak business spending. A drop in company inventories erased 1.2 percentage points from the headline GDP print.

Consumers played their part, however, amid a healthy labor market.

More to come ...

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