Economists predict GDP grew at a 2.6% annualized pace in the second quarter, which is higher than the BEA's second reading put out a month ago of 2.5%. In Q1, the economy expanded only 1.1% annualized.
Q2 personal consumption growth is expected to clock in at 1.9%, slightly higher than last month's BEA estimate of 1.8%. Either of those numbers would mark a slowdown from Q1's 2.3% pace of growth.
Core personal consumption expenditure, one of the FOMC's favorite measures of inflation, is expected to remain unchanged from last month's estimate at 0.8% in Q2.
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