Q2 GDP Tracking: Mid-to-high 2s - BofA, Goldman, Atlanta Fed Estimates Revised Down

Q2 GDP tracking estimates have been revised downward. BofA now estimates 2.3% q/q saar, down 0.2%, while Goldman estimates +3.0%, down 0.6pp. The Atlanta Fed's GDPNow model estimate is 2.6% on July 9, unchanged from July 3. Residential fixed investment growth is nowcasted at -6.5%, and inventory investment's contribution to real GDP growth is estimated at -2.15 percentage points.