The consensus forecast expects U.S. GDP growth to
come in quite a bit better than the two previous quarters, as exports
have surged on the weak dollar and the fiscal stimulus package has
provided a boost to consumption.
The advance Q2 GDP report is expected to show growth of 2.3% in
Thursday’s report from the Bureau of Economic Analysis, a significant
advance following 1.0% growth in Q1 and a dismal 0.6% rate in the final
quarter of 2007. However, forecasts are abnormally wide for the report,
ranging from 0.9% to 4.2%.