Q2 GDP Tracking: Mid-2%

The advance estimate of 2nd quarter GDP will be released next week.

From BofA:

Our 2Q GDP tracking estimate is up two-tenths to 2.4% q/q saar since our last publication, largely due to higher-than-expected industrial production (IP) and housing starts and permits [July 18th estimate]
emphasis added

From Goldman:

We boosted our Q2 GDP tracking estimate by 0.3pp to +2.6% (qoq ar) and our Q2 domestic final sales forecast by 0.1pp to 2.2%. [July 17th estimate]

And from the Altanta Fed: GDPNow

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 2.7 percent on July 17, up from 2.5 percent on July 16. After this morning's housing starts report from the US Census Bureau and industrial production report from the Federal Reserve Board of Governors, the nowcasts of second-quarter real personal consumption expenditures growth and second-quarter real gross private domestic investment growth increased from 2.1 percent and 7.7 percent, respectively, to 2.2 percent and 8.9 percent. [July 17th estimate]