Get 100% ad-free experienceUS GDP Still on Track to Rebound in Q2View all comments (0)0Uncertainty and risk continue to weigh on the outlook for the economy, but the latest nowcasts for the government’s second-quarter GDP report (due on July 30) are still pointing to recovery after Q1’s slight contraction.The median nowcast for Q2 indicates a 2.4% increase in output, based on a set of estimates compiled by CapitalSpectator.com. That’s up from the 1.6% nowcast in the previous update (May 20).The latest numbers for GDP look encouraging, even though some reports published this week suggest otherwise. Notably, ADP’s estimate of hiring at US companies in May slowed sharply and weekly jobless claims rose to the highest level since October. For the moment, however, it’s not obvious that those warning signs will affect Q2 GDP.Another report released this week indicates that the broad trend in the economy is on track to recover for the April-through-June period. Private sector output growth accelerated sharply last month, according to S&P Global US Composite PMI, a survey-based GDP proxy that’s one of the inputs for our median nowcast.But while economic activity has rebounded recently, albeit from a low base, the PMI data also suggest that growth remains modest.“The PMI is so far indicating annualized GDP growth barely above 1% in the second quarter, so avoiding recession but adding to our expectation of only modest GDP growth in 2025 of just 1.3%,” said Chris Williamson, chief business economist at S&P Global Market Intelligence.US GDP Still on Track to Rebound in Q2View all comments (0)0Latest commentsLoading next article…Install Our AppScan QR code to install appRisk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.© 2007-2025 - Fusion Media Limited. All Rights Reserved.