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Hit to Q2 GDP growth from net trade probably offset by inventories and investment.
A strong Q2 for manufacturing, but major headwinds persist.
The single-family construction boom seems to be fading.
Output lacking momentum, but goods inflation still very much in check.
Ugly activity and employment numbers, further signs of disinflation.
Net trade and equipment investment both set to drag on Q2 growth.
A further slowdown in consumption growth seems increasingly likely.
A solid headline number, but the labor market is a weak spot.
independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence